Search Results for: delay

NCLAT Chennai condones a delay of 147 days in filing of Appeal before the Appellate Tribunal

The National Company Law Appellate Tribunal in the matter of M. K. Resely & Ors. Vs Union Bank of India has condoned a delay of 147 days in filing of appeal before NCLAT upon equity.

Delayed Possession Relief under Section 18 of RERA

A respondent has violated the provisions of section 18 of the RERA and hence the complainant is entitled to seek interest for the delayed possession under section 18 of the RERA.

Right of homebuyer seeking refund and compensation for a delayed project

Section 18 (1) gives two kinds of rights to the homebuyers i.e. right to get a Refund along with Interest and the Right to get Compensation.

Consumer court have the power to direct refund and compensation in case of delayed delivery of the apartment

The Consumer Protection Act is a wide-ranging provision and it is not a specific resolution like the Insolvency ad Bankruptcy Code and the remedies are simultaneously and mutually exclusive.

Mechanism to protect Micro and Small Enterprises from delayed payment

Recover the money against the supply made along with interest notified by the Reserve Bank of India (RBI) if any company make the payment after 45 day of acceptance of goods and service from any MSME’s vendor.

How to claim interest on Delayed Project

RERA Act grants the remedy to the homebuyers where they can file a complaint under section 31 of RERA Act and can claim interest for delay in possession by the developers. Homebuyers must seek legal assistance without delaying.

Delayed Possession and Compensation under RERA

According to the provisions of the agreement, if possession is not handed over on time, the Promoter is obligated to pay or compensate the Complainant/allottee for loss of rent.

Rajasthan RERA issues notices to developers for delay in projects

RajRERA Authority issued more than 300 notices to the developers in light of the delay in project completion and is all set to issue more notices to the concerned new developers.

Pandemic fueled delay in possession hit homebuyers hard

Homebuyers were promised possession years ago but till date thousands of them are still waiting to get the possession and have faith in the system to get justice.

No Fresh License to Builders with Delayed Projects: HARERA

The Haryana Real Estate Regulatory Authority has issued notice to Empire Realtech Pvt Ltd along and an associated company, CHD Developers for completion of ongoing projects or face cancellation of registration. The HARERA has decided to debar builders from acquiring fresh licenses whose previous projects have been delayed. Also, the authority will blacklist such builders and a list of 50 builders in Gurugram has already been prepared.

MahaRERA orders CCI Projects to Pay Interest on Delayed Possession

The MahaRERA in three separate orders directed the CCI Projects Ltd to pay interest on delayed period of possession after the ongoing six-month moratorium due to covid-19 crisis is over.

Homebuyers to takeover the Delayed Projects- MAHARERA

MahaRERA has taken an extra step to ensure completion of struck and delayed projects. MahaRERA asked all the developers to handover the project to homebuyer.

Corporate Debtor cannot be blamed for delay in delivery of possession when delay occurs due to Force Majeure

Whether the delay in delivering possession is due to the Corporate Debtor & in case the delay is not due to the Corporate Debtor, but force majeure, it cannot be alleged that the Corporate Debtor has defaulted in delivering the possession.

Interest for Delayed Period of Possession to be calculated from date of default of Handing over Possession

The promoter is under obligation to pay interest on the amount paid by allottee from the date of payment till the possession is handed over to allottee.