The authorities of most of the states have passed numerous orders but none of them have been executed in reality. The orders remain on paper and developer/ promoters have not complied the order.
The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.
While dismissing the complaint the authority observed that both the Section i.e. 12 and 18 operate at two separate times of the transaction.
Bihar RERA Authority exercising power under Section-36 of the Act which gives power to the Authority to pass interim orders for contravention of Act freezed the bank accounts of the builder.
An RC was issued for recovering 3.04 crores, based on the same a 15 days’ notice was issued to clear the dues post which due to non-compliance builders were arrested.
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.
The Hon’ble bench Division Bench of Justice Mahesh Grover and Justice Lalit Batra after hearing the arguments on behalf of the petitioners have issued notice to Union of India.
The RERA Authorities of the various States have passed some landmark Judgments as RERA law provides them sufficient powers for the smooth functioning of their duties and role.
According to the various resources that central government is planning to increase the number of NCLT benches from 11 to 24.
National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) were established due to the notification w.e.f. June 01, 2016, published by Ministry of corporate affairs.