Search Results for: recovery of money

Summary Suits for Cheque Bounce

the plaintiff can file a separate complaint and proceed with the summary suits for the recovery of the amount due to him for a speedy recovery.

Decree-Holder is not covered by threshold of Home Buyers for IBC

In the case of Ashok Tripathi and Anr Vs. Ansal Properties and Infrastructure Ltd. that a decree-holder/homebuyer having refund order from RERA or other courts shall not be deemed as a homebuyer but a financial creditor.

Remedies Available for Homebuyers in Delayed Projects

As a developing country, India had huge prospects for growth in the real estate sector, seeing this many people invested in the sector in good faith.

RBI black-listed 9500 defaulting NBFCs

  NBFCs or the non-banking financial companies as we call it are now under the radar of the Reserve Bank of India. Traditionally, India has had a bank dominated financial sector. Even so, there have always been Non-Banking Financial Companies to provide finance to mainly unorganized markets. NBFC have continued to complement banks in providing … Continue reading “RBI black-listed 9500 defaulting NBFCs”

HOW TO CLAIM SHARES FROM (IEPF) AUTHORITY

When a dividend is declared by a company but has not been paid or claimed within 30 days, the company shall transfer the amount to an Unpaid Dividend Account. If the money transferred to the Unpaid Dividend Account remains unpaid or unclaimed for a period of 7 years from the date of transfer, the amount shall be transferred to the Investor Education & Protection Fund.

FUTURE OF MEDIATION IN INSOLVENCY PROCEEDINGS

Being the least expensive and less time-consuming, Mediation is popular ADR in India. The mediator plays the role of a neutral party who helps the parties to have direct communication and assists in exploring the options and a mutually accepted agreement.

IBC Overrides the Limitation Act

In the recent case given by the retired Hon’ble Supreme court Judge CJI Ramana. He said that in case of any conflict, the IBC will override the Customs Acts.

Are the principal amount and the interest levied dependent on each other for the purpose of section 7?

A recently evolved notion of co-relation of Principal amount and interest levied on it, for the purpose of Section 5(8) of the code and its implication in the application filed under Section 7.

Procedure in Summary Suit

The summary suit is a unique legal procedure used for enforcing a right in an efficacious and efficient manner. This is a procedure used for enforcing a right that takes effect faster than ordinary suits as unlike in ordinary suits the courts do not hear the defense.

Insolvency Process Versus Liquidation

Confused between the Insolvency Process & Liquidation? The procedure and differences between Insolvency Process and Liquidation is explained.

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.

6 Steps of Corporate Insolvency Process

CIRP is a process to determine the capability of repayment of the defaulted corporate. For this purpose, IRPs are appointed. They evaluate the assets and liabilities to determine the capability of repayment.

Why are Homebuyers choosing NCLT over RERA?

Buyers say that RERA orders are not getting implemented and this is forcing them to approach NCLT and there is a need to check abuse and maximize the value of assets.