Blogs

Real Estate Regulatory Authority in Uttar Pradesh orders Forensic audit of errant developer 3C.

All the struck–off companies can approach NCLT under section 252 of the company act for the revival of the struck-off company against the order of ROC.

Rajasthan RERA get into action at full swing as the appointment of the chairman, other officials and retired judges in the Appellate Tribunal is already done in May.

How can a corporate person file for insolvency? the insolvency process for section 10 application, the fees, documents required and other details required to file such an insolvency petition.

It was held that if the dispute is raised after the time period allowed in the demand notice, then this may not be a ground for rejecting the insolvency petition by operational creditor.

Homebuyer filed appeal before P & H High court against order Haryana RERA Tribunal which held that RERA authority does’t power to grant refund under RERA.

A brief of verdict given by the Supreme Court on July 23, that the Amrapali Group has violated the doctrine of public trust by permitting diversion of funds of homebuyers.

As the majority of the builders have not delivered the possession of the property as promised made by them and breached the terms and conditions on the agreement executed with the homebuyers.

There has been no further clarification as to whether the home buyers are secured financial creditors or unsecured financial creditors, but in consideration of the recent developments, one thing is sure that the result will be in the interest of homebuyers only.

In UP RERA, a separate department has now been made to look into the matters where the execution of the order has not been done.

UP RERA has imposed a fine amounting to Rs.1 Crore on ANSAL API for the non-compliance of orders passed by the authority.

Not mentioning the date of giving possession to the buyer is a clear matter of fraud and misrepresentation and as per the Maharashtra Ownership of Flats Act of 1963.

In the year of 2016, a new set of laws as RERA Act have been implemented, specifically to protect the homebuyer and ensure the growth of real estate sector.

According to S.4 of the IBC, the minimum default required to initiate insolvency proceedings against a corporate debtor is Rs. 1 Lakh.

One of the first projects to be deregistered by UP-RERA and the subsequent proceedings will decide how well RERA will be in implementation.