Hon’ble Supreme Court has reiterated and upheld that legal position of the Flat Buyers Association as consumer and has also made it clear that the builder cannot occupy any place, without the permission of the association, after the project is handed over.
The Adjudicating Authority cannot allow or approve the application regarding modifications or withdrawals of CoC-approved Resolution Plans once the plan has been submitted before NCLT.
NCLAT said that if there was deficiency in pleading, the same could be corrected by giving opportunity before this Appellate Tribunal to amend the pleadings. In Appeal naturally pleadings could be by filing Application and reply supported by documents.
A simple deal will never have special promises which can’t be fulfilled. It’s a usual tendency for a common man to get lured by special offers but you have to keep in mind that no one is spending a penny from their pockets for doing something extra for you.
We often talk about the rapid growth of the real estate sector in India but forget to talk about the legal documents that play a very crucial role in the aforesaid sector. And builder buyer agreement is one of the most important documents for homebuyers.
“Supreme Court is playing with the emotion of homebuyers” an unhappy homebuyer of Jaypee Wishtown said after the Superme Courts’s order on Jaypee Infratech.
The NCLT and the National Company Law Appellate Tribunal (NCLAT) have to ensure that they do not usurp the legitimate jurisdiction of other courts, tribunals and for when the dispute is one which does not arise solely from or relate to the insolvency of the Corporate Debtor.
UP RERA recently passed an order making it mandatory for all the developers to mention the Registration number in the advertisement along with a link to RERA website.
More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.
The homebuyers who have got RERA refund orders and if builder has defaulted in making the payment, you can file case before NCLT under IBC laws
In the matter of Mr. Anil Mnagaldas Vade & ors. vs. Siddhitech Developers, the delay in filing an appeal u/s 44 of RERA Act, MREAT allowed delay of 14 months & 22 days to homebuyers.
Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.
Central Govt. passed an ordinance by which they brought in a cap on number of homebuyers approaching the NCLT under Section-7 of the IBC code, 2016.
Centrik is feeling proud to being helping hand to the 144 aggrieved homebuyers to get justice on handover stalled projects.
In UP RERA, a separate department has now been made to look into the matters where the execution of the order has not been done.
join For Updates