Out of the total 45,000 houses in the stalled projects of Amrapali Group, the process of completion of about 40000 housing units has begun. A huge relief to the homebuyers.
Author: Priyanshi Jaiswal
Last Mile Funding- Government bringing relief to the Home buyers
The Government cleared the last mile funding for 2 stuck housing projects with over Rs. 540 crore capital commitment. That will provide relief to over 1,800 troubled homebuyers based in Bengaluru and Mumbai.
A ray of hope for Supertech Home Buyers- Company to sell assets to complete Projects
Supertech plans to sell its assets to raise money for its real estate projects. The Real Estate Firm has various real estate projects based in Delhi and NCR
New IBC Amendments in work likely to benefit creditors in cases of Cross Border Insolvency
The IBBI has disclosed that work is in progress to amend the IBC to make it compliant with cross border insolvency processes.
Creditors Recover of INR 3.75 Lakh Crore in 1.6 years at IBC/NCLT Pre- Admission Stage
The recovery rate has increased almost three times i.e. from 26.5% in 2018 to 71.6% in 2019 and the time taken for recovery improved from 4.3 years to 1.6 years within a short span of one year.
Aviva Life Insurance Company now a Corporate Debtor under IBC
Aviva Life is a joint venture between Dabur Invest Corp (Dabur group) and Aviva International Holding Ltd. This petition was filed against Aviva by Apeejay Trust for non-payment of rent and other relating dues totaling to over 27 lakh as claimed by Apeejay Trust in their petition.
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