Hundreds of homebuyers in Karnataka have been left in the lurch as they still haven’t received compensation from the developers. The Karnataka RERA has already passed orders against these errant developers and penalized them for not delivering possession
A financial creditor(s) may file an application for initiating CIRP u/s 7 of IBC against a corporate debtor when a default has occurred.
The Rajasthan Authority appears to be tightening the noose on these illegal colonies and unregistered projects.
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.
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.
The Supreme Court holds banks, Noida and Greater Noida authorities responsible for the Amrapali mess.
Registration of project and filing RERA complaint, both are separate activities. A RERA case can be filed even against the non-registered projects.
As per the judgment of the NCDRC, class action complaint can be filed under the Consumer Protection Act, 1986 and it is not necessary for all the aggrieved persons to file separate complaints.
The National Company Law Tribunal has dismissed an insolvency application filed by Gemini Innovations, raising doubts over the “unnatural” facts listed by the company in its filing
In this article we have discussed about how an Operational creditor can file an application for initiation of Corporate Insolvency Process against it debtors.