Recovery of Money in a Speedy Manner
Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.
Search Results for: Insolvency and Bankruptcy Code
Executing order under Karnataka RERA
The manner of recovery of interest, penalty and compensation and the same is to be carried out in the manner provided in Karnataka Land Revenue Act 1967 and the rules made there under.
Where to file property related issues?
If the builder is delaying in giving possession or not giving the property as per the agreements there are some effective legal remedies for the aggrieved homebuyers under the law.
NCLAT: CIRP can be initiated against a Company whose name has been Struck off from the Registrar of Companies
The NCLAT has affirmed that a request for the initiation of the Corporate Insolvency Resolution Process(CIRP) under sections 7 and 9.
Wave group to Refund buyer’s money with 12% interest
The hope of Ramkrishna Shard Parsodkar and his wife was shattered in to pieces when the builder failed to give possession after years of booking. That after being tormented at the hands of the builder, the couple was forced to approach the highest Consumer court of the county.
Homebuyers can file claim against HDIL
Corporate Insolvency Resolution Process initiated against Housing Development and Infrastructure Limited. Claims have been invited by the IRP from the creditors of the Company.
Are Homebuyers Secured Financial Creditors or Unsecured Financial Creditors under IBC?
There has been no further clarification as to whether the home buyers are secured financial creditors or unsecured financial creditors, but in consideration of the recent developments, one thing is sure that the result will be in the interest of homebuyers only.
Recognition of Home Buyers as Financial Creditors under IBC
Home buyers are vital stakeholders in building projects. Many home buyers book their property in advance which helps builders raise funds for construction and development of the project.
Execution of RERA Orders-Through RC-An Analysis
Since there are various difficulties in getting the order executed. At this point of time, the orders may be executed through RERA and also one can approach NCLT under IBC Law.
NCDRC vs RERA vs IBC, Which Is the best mechanism for consumers to get timely relief
Supreme Court allowed several buyers to join their suit property in order to increase valuation of their dispute and approach the NCDRC however buyers still find it difficult to get timely relief from the NCDRC.
Corpus or Interim funds arranged by the COC cannot be attached by any authority
After observing the current situation of the corporate debtor no creditor is willing to infuse more funds as they are afraid of losing the same through the enforcement of any law or authority under law.
The provisions of IBC will prevail over the provisions of SARFAESI Act
In the light of the provisions and section 238 of IBC, when there arises any inconsistency between the aforementioned two laws the provision of IBC will prevail over the provisions of SARFAESI Act, 2002.
Recovery under SEBI cannot take place during the moratorium period
Under section 14 of the code, the moratorium order is passed. Accordingly till the time moratorium period exists no other action or suit or case or proceedings against the corporate debtor can take place.
Pendency of proceedings before debt recovery tribunal cannot affect the petition under 7 of IBC
If some other recovery proceedings are pending or the amount of claim is disputed before other tribunal or adjudicating body that won’t empower the adjudicating authority to reject the petition.
SC denies to put stay on NCDRC’s order of allowing homebuyers to move against JAL
The Apex court of the country has denied to put stay on the NCDRC’s order allowing the homebuyers of JayPee Infratech Ltd. to move against the parent company Jai Prakash and Associates for compensation and possession of their respective flats.
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