Search Results for: company law

Bihar RERA takes strict action: Freezes Bank Accounts of Construction Company & its Directors

Bihar-RERA issued an interim order in a case where it froze the bank accounts of a construction company and its directors.

A Journey of Homebuyer in IBC Laws

A tug of war going on between the companies involved in the real estate sector and the homebuyers since the Insolvency and Bankruptcy Code (IBC) came in force in 2016

Implications of cheque bounce under Insolvency Laws (IBC)

Cheque bouncing is also the default in making payment of debt, and petition under IBC laws may be admitted

Insolvency Proceedings Limited to Individual Project and not other Projects of Real Estate Company: NCLAT

The NCLAT held that CIRP against Real Estate Company shall be limited to Project concerned and will not affect other projects of the developers.

Govt May Change IBC Laws for Buyer Protection, Stricter Norms for Homebuyers

The Ministry of Corporate Affairs may soon likely to move amendments to the code, including protection for new buyers and tighter norms for home buyers in terms of taking developers to the NCLT.

Aviva Life Insurance Company now a Corporate Debtor under IBC

Aviva Life is a joint venture between Dabur Invest Corp (Dabur group) and Aviva International Holding Ltd. This petition was filed against Aviva by Apeejay Trust for non-payment of rent and other relating dues totaling to over 27 lakh as claimed by Apeejay Trust in their petition.

NCLAT: CIRP can be initiated against a Company whose name has been Struck off from the Registrar of Companies

The NCLAT has affirmed that a request for the initiation of the Corporate Insolvency Resolution Process(CIRP) under sections 7 and 9.

Check if you need to file a claim for company facing insolvency process

In order to avoid rejection of the claims, the filing of claim should be done by an expert person having knowledge of Insolvency laws. 

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.

Recovery of Money through Insolvency Laws

If any company is not making the payment as per agreed terms, then an insolvency petition may be filed u/s 7 or 9 based upon the facts, before NCLT to initiate the insolvency proceedings.

Claims to be filed by homebuyers in case the company of builder goes under Insolvency

Homebuyers to file the claim under IBC rather than adopting a way which is not legally realistic wherein the insolvency orders are passed against the builder’s company.

RERA or IBC-Under which law Homebuyers are well protected?

RERA or IBC- Both the laws provides with the subjective approach depending upon the facts of the case and the situation of the developer.