Why to choose Arbitration?
There are a number of distinguishing features that often persuade parties to choose arbitration as opposed to court litigation for the resolution of their dispute.
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Arbitration Overview: Meaning and Importance
Arbitration is a form of dispute resolution which make both the parties mutually agree on the procedure of arbitration. Arbitration the most efficient form of remedy for settlement of dispute as it saves a lot of time and resources.
Is judicial intervention in arbitration justified?
The court’s intervention can be justified by saying that it protects the rights of the parties or it puts eyes on the arbitration proceedings to prevent any injustice.
Benefits of Arbitration
Though arbitration has various advantages over traditional litigation but it is important to consider all of the options when preparing to initiate arbitration.
How to claim interest on Delayed Project
RERA Act grants the remedy to the homebuyers where they can file a complaint under section 31 of RERA Act and can claim interest for delay in possession by the developers. Homebuyers must seek legal assistance without delaying.
Arbitration: Rising alternative dispute resolution mechanism
The resolution of a dispute via an arbitration mechanism saves time and cost. The proceedings are conducted as agreed by the parties or accordingly. However, if the parties are not satisfied with the award, then it can be challenged also.
How RERA and NCLT would be a solution for stuck projects
Different forums provide for different reliefs and one must be cautious enough before choosing an appropriate forum. Before choosing the appropriate forum, points to be analyzed are type of violation by the builder, what relief is prayed for, urgency, repetitive nature, financial condition of the builder, status of other projects, etc.
Thousands of acres of land hitherto not utilized by Bangalore Development Authority
a senior Bangalore DEvelopment Authority official stated that some properties are encroached, while some other are trapped under the litigation process.
Legal solutions when real estate project is stuck
Since the real estate projects are the turkey projects and take multiple years to get it completed, a normal delay can be accepted. Any delay of more than 1 year from promised date of possession is regarded as ‘extra-ordinary delay’.
Jurisdiction in Copyright dispute arising from CIRP can be decided only by NCLT: Delhi HC
A dispute arose after the completion of the liquidation proceeding and whether the dispute relates to special legislation, such as the Copyright Act, where civil courts have been granted exclusive jurisdiction.
Prevalence of IBC over the SARFAESI Act
The Adjudicating Authorities have affirmed the IBC’s goals through a series of judgments and further proved its prevalence over the other laws of land.
RERA Act and Conciliation
According to RERA, grievances filed with the authority must be resolved within 60 days of filing. Complaints have been settled more quickly via the conciliation forum than through the authority. It also cuts down on the expense and time of litigation.
How is Information Memorandum Prepared?
The purpose of an information memorandum is to support ‘decision making’ and to make a better decision in a particular problem situation that might otherwise have made without the analysis.
How effective is RERA?
The main purpose of RERA was to enhance builder buyer transparency along with creating a strong adjudicating mechanism to resolve all the disputes in concern with the real estate sector.
Claims, not part of Resolution Plan, gets exhausted
No further legal action shall be permissible by creditor, whose claim has been rendered unsatisfied as per the resolution plan.
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