Search Results for: nclt

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.

Can a Homebuyer approach RERA, NCLT and Consumer court simultaneously?

The home buyers have multiple forums to their rescue and it depends on them as to under what procures and act or code they wish to proceed.

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.

Filing of insolvency petition before NCLT by the Homebuyer- A Complete Analysis

In the year of 2016, a new set of laws as RERA Act have been implemented, specifically to protect the homebuyer and ensure the growth of real estate sector.

Home Buyers can approach NCLT in case of extraordinary delay in possession or refund

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.

Move to increase efficiency of IBC: Renewal of NCLT Benches

Steps like the appointment of new judges and revamping the whole infrastructure of few NCLT benches shall prove to improve the current status of IBC cases being filed in the nation.

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.

Can homebuyer approach NCLT before RERA?

RERA has been specifically setup to regulate the real estate sector therefore one must approach RERA before approaching NCLT.

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.

NCLT to hold no say in justness of rejection of resolution plan

NCALT in the appeal filed in the matter of Kamineni’s reversed the order passed by NCLT and remanded the matter back to go through the liquidation process.