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Moratorium Period under section 14 of the code shall not apply upon such proceedings under the prevention of money laundering act.

Insolvency and bankruptcy Law 2016, has categorised the home buyers debt as financial debt to the real estate company/builder and therefore, homebuyers can claim their dues as bank claims its debt.

As per section 8 of IBC an operational creditor, if does not receive amount from corporate debtor, has to deliver a demand notice of unpaid amount along with the copy of invoice demanding payment of the amount involved.

MahaRERA has wide order No 8/19 dated 28th March 2019 opened up door for revocation of the registration in accordance with Section 7 & 8 of RERA Act 2016.

In the light of the provisions and section 238 of IBC, when there arises any inconsistency between the aforementioned two laws the provision of IBC will prevail over the provisions of SARFAESI Act, 2002.

Under section 14 of the code, the moratorium order is passed. Accordingly till the time moratorium period exists no other action or suit or case or proceedings against the corporate debtor can take place.

In the absence of specific evidence relating to invoices actually forwarded by the appellant and there being a doubt, the insolvency petition cannot be entertained under section 9 of IBC.

If some other recovery proceedings are pending or the amount of claim is disputed before other tribunal or adjudicating body that won’t empower the adjudicating authority to reject the petition.

The Hon’ble NCLAT held the validity of the demand notice sent through whatsapp messenger app wherein the blue tick on the text implies the acceptance of the communication.

According to the sources, 591 complaints and 128 applications of buyers are pending with the regulatory authority. The authority shall issue notices with respect to pending complaints about hearing.

The Authority can grant extension in non-Force Majeure condition also by recording its reasons in writing and the same cannot be done for more than one year.

After MahaRERA, UPRERA also has adopted the services of a satellite to monitor the illegal construction and dubious projects being constructed in the state.

The Apex court of the country has denied to put stay on the NCDRC’s order allowing the homebuyers of JayPee Infratech Ltd. to move against the parent company Jai Prakash and Associates for compensation and possession of their respective flats.

The Uttar Pradesh Real Estate Regulatory Authority, Greater Noida Bench had rejected the registration applications of as many as 36 builders.

If the collection from allottees in a particular month is less than the installment due to be paid to the lender, the entire amount in the escrow account reportedly goes to lenders.