Search Results for: approach the NCLT

How to Execute RERA Order through NCLT under IBC

The RERA Act at present is still a toothless tiger due to lack of execution process of RERA orders. The reliefs under RERA at the moment rest only in paper.

How an individual Home-Buyer can now proceed before NCLT?

Alternatives that an individual home buyer has in cases when the priority is refund and how they can proceed before NCLT or in other words exploit a long standing loophole.

High Court to intervene against orders of the NCLT

A judgement has been held by Hon’ble Supreme Court that the powers of the NCLT under the IBC do not extend to adjudicating disputes relating to quasi- judicial or statutory authorities.

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.

Are Builders more threaten by NCLT proceedings than RERA?

A growing number of Builders, Developers, Promoters and stakeholders in the Real Estate Industry are backing RERA to be the first applicable redressal mechanism to homebuyers.

NCLT flooded with cases by Homebuyers: Over 1800 cases filed so far

The latest government data shows that how IBC is a huge change brought by the recent government in terms of a speedy redressal for the aggrieved homebuyers.

Karnataka HC stays on NCLT order against Flipkart

Flipkart approached the Karnataka High Court for a stay on the CIRP process initiated by the NCLT. Further,  the Karnataka High Court stayed the CIRP process.

Having Problem with Builder, Approach RERA

To, start with the most common problem that as homebuyers you might have is delayed possession or no construction in the project.

NCLT Chennai admitted Insolvency Petition against 17 Builders under IBC Law

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.

NCLT may override the order under PMLA

Money laundering is the term generally used to describe the process by which an individual/entity acquires a property through criminal conduct or illegal means and shows the source of acquisition of the same property as a legal one.

Insolvency petition to NCLT by a Homebuyer

An application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.

Jurisdiction and Powers of NCLT

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.

Proceed to NCLT for recovery of dues under Insolvency & Bankruptcy Code

To initiate recovery procedure one can approach the National Company Law Tribunal which exercises the power to dispose cases under Insolvency Code.