Due to nation wide lockdown MahaRERA extended the period of validity for registration of all registered Real Estate Projects by 3 Months.

The period of lockdown imposed by the Central Government in the wake of COVID-19 outbreak shall not be counted for the purposes of the time-line for any activity that could not be completed due to such lockdown.

Earlier the allottees had an option of claiming refund of the entire amount. But under the reverse CIRP, the allottees will not be able to claim the refund.

COVID19 Emergency-The Indian Economy is already facing a slowdown in growth but this situation to get worse if the countermeasure is not implemented sooner.

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.

There is a certainty that the time-barred debt can be revived even after the lapse of an initial period of limitation which is 3 years.

Alternatives that an individual home buyer has in cases when the priority is refund and how they can proceed before NCLT or in other words exploit a long standing loophole.

MOFA belongs to such class of such legislation that were more regulatory in nature, instead RERA creates an environment for the functioning and development of real estate sector.

Order deliverd by NCLAT is a relief for creditors to invoke the jurisdiction of IBC and seek appropriate redressal for their long-awaited grievances against the debtor.

An analysis report regarding the MahaRERA authority has passed an order holding that the industrial units are not covered under RERA Act.

The institution of Insolvency proceedings against DHFL will result in Courts to venture out over new dimensions of prospective rights and liabilities of the financial service providers.