Supremacy of Insolvency and Bankruptcy Code
The code has helped the creditors to recover their amount from defunct companies and bring them back to their actual position. IBC was introduced so as to reduce India’s long-standing problem of NPAs.
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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.
What constitutes a “Dispute” under the IBC as per the Supreme Court?
The Supreme Court clarified the code’s object while keeping legislative intent in mind. The court, through this judgement, has struck a balance between creditors’ rights and debtor companies’ remedies.
NCLAT explains essential criteria of Financial Creditor
In the present case, the NCLAT held that the Appellants were acting as investors, the money they gave to the Respondents was in the nature of a loan, satisfying the condition of amount “disbursed against consideration for time value of money,” and the committed returns were in the nature of “interest.”
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.
Filing Appeal under RERA
In order to file appeals under RERA, the Real Estate Appellate Tribunal (“REAT”) was formed under section 43 of RERA, which examines the legality of RERA orders and determines whether to uphold or reverse the order. The REAT order can also be challenged before the Hon’ble High Court by filing an appeal.
Right Legal Remedy for Aggrieved Homebuyers
We always talk about problems that we face. Let’s talk about the remedy this time. A good legal team will help you in getting justice on time with an effective remedy. Finding the right legal remedy for your dispute is all what you seek during this chaos.
RERA Authorities Go Virtual
Once again the pandemic is hitting us hard in its second wave leaving no other option but to once again choose the path of virtual courts. So the decision of the RERA Authorities to go virtual is just to settle the disputes without any further delay and not to let the pandemic hamper our justice system.
Resolution Plan under IBC
Resolution applicants enter the CIRP and prepare “Resolution Plans,” which are effectively instruments for taking over a corporate debtor, paying its creditors’ debts, and completing its recovery and restructuring.
IBC vs SARFAESI Act
The IBC is favoured over the SARFAESI Act, primarily because it offers a quick solution and is also effective in reviving the company and safeguarding the interests of all stakeholders.
UPRERA imposed penalty of Rs. 1.6 cr while deregistering two Ansal API projects
Strict action has been taken as two projects of Ansal API has been de-registered by the UPRERA Authority after the promoter could not provide a satisfactory response to the notices sent by the Authority.
Pandemic fueled delay in possession hit homebuyers hard
Homebuyers were promised possession years ago but till date thousands of them are still waiting to get the possession and have faith in the system to get justice.
UP RERA missing the mark in securing Recovery Certificates
The authority should take proper cognizance and ensure compliance of Recovery Certificates by builders and protect the interest of homebuyers.
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