RERA Imposes Rs 2.5 Crs penalty on developers for failure to comply the RERA orders
UPRERA Authority has imposed penalty of Rs 2.5 crore against 11 developers for failing to comply with the authority’s order, which were in favor of homebuyers.
Search Results for: Insolvency and Bankruptcy Code
Revised 1 crore threshold under IBC not to apply retrospectively
The interpretation adopted by the NCLT Chennai Bench over the prospective application of a new threshold of Rs 1 Crore brings a sigh of relief for all the creditors.
Good News for Builders- SBICAP Lowers IRR to 12 Percent in Stress Funds for Stalled Housing Projects
In order to help the COVID-19 hit real estate SBICAPS has announced lowering the internal rate of return (IRR) from 15 percent to 12 percent. That the move has been welcomed by developers all over India.
Developing Trends in the Indian Real Estate Market
The new trends of the Real Estate sector show a market that has learnt from its errors and is confident to make an increasing comeback with a focus of consumer welfare and diversification of market.
Remedies Available for Homebuyers in Delayed Projects
As a developing country, India had huge prospects for growth in the real estate sector, seeing this many people invested in the sector in good faith.
Filing claims after the lapse of due date
Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws
Invocation of guarantee during Moratorium
As per section 14 of the IBC 2016 and in the judgments it has been determined that during the moratorium period the invocation of guarantee against the ‘Company under Insolvency Proceedings/ CIRP.
Issued RC under RERA, can be recovered within 3 years due to Limitation Act
The RERA Act under its ambit provides for the execution in the form of issuance of RC or better known as Recovery Certificate u/s 40 of RERA Act.
Revival of sinking ship of Real Estate Sector
To revive the ship the major equipment which is required will be RERA as it will soon accelerate its healing on the damage caused to the real estate sector.
Execution of RERA Orders
The execution of the orders is still a far fetched process as the RERA has failed to implement the execution mechanism under the RERA.
RBI’s February Circular-Stressed Asset Resolution
The RBI’s February 12 circular on non-performing loans has stirred a hornet’s nest. Banks, India Inc and even the government are opposed to it and are vigorously lobbying the central bank
What are the Duties of Liquidator
The duties of liquidator have been elaborately mentioned in this article to make aware about his position as an Officer.
All about Interim Resolution Professional
Detailed article about the management of affairs of corporate debtors by IRP and about their authority.
Status report on IBC proceedings after one year of its introduction
Cheers to NCLT’s efforts for effectively complying with IBC and be able to resolve eigth high profile insolvancy cases within a year.
What further action can be taken by operational creditor on non-payment of debt?
This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.
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