Search Results for: Demand Notice

Mediation Helps Settle Dispute between Builder and Homebuyers

Disputes between builders and homebuyers in the Maharashtra that went to mediation were successfully settled, preventing time-consuming litigation in RERA Authority.

MahaRERA orders for Refund – Strikes down a Forfeiture clause as unjust and Deceitful

A milestone judgement by the MahaRERA Authority to ensure the development of the real estate industry by protecting the homebuyer’s interest by balancing the rights of homebuyers as well as project developers.

Supreme Court takes matter into its own hands in Jaypee Infratech Case

The SC has already issued notice and sought a reply from Jaiprakash Associates for the same, due to be heard on 17th October, 2020. The apex court took matters into its own hands and ordered for transfer of cases.

Corporate Debtor cannot be blamed for delay in delivery of possession when delay occurs due to Force Majeure

Whether the delay in delivering possession is due to the Corporate Debtor & in case the delay is not due to the Corporate Debtor, but force majeure, it cannot be alleged that the Corporate Debtor has defaulted in delivering the possession.

Claim for damages cannot be an Operational Debt under IBC- Flipkart Analysis

The Hon’ble Karnataka High Court on Oct 25, 2019, stayed the insolvency proceedings on the grounds that the Tribunal lacked jurisdiction to adjudicate a claim for damages. 

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.

NHB asks housing finance companies to abstain from financing subvention schemes

The National Housing Bank (NHB) has asked housing finance companies (HFCs) to “desist from offering” loans for subvention schemes offered by developers.

Remedy for Companies after strike-off order passed by ROC

All the struck–off companies can approach NCLT under section 252 of the company act for the revival of the struck-off company against the order of ROC.

What if builder does not have occupation certificate for the project?

There are such no. of cases wherein Builder does not have OC but they are offering the possession to the Home-buyers; even knowing the fact that this is an illegal act.

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.

MAHARERA: Auction of the Property to recover the Money of allottees’

Maha-RERA issued a revenue recovery warrant and sent it to the Thane collector. And was forward to the Tehsildar of the area for property sealing and auctioning to recover the money.

Key Highlights on Insolvency and Bankruptcy Code, 2016

A detailed article on Key highlights of Insolvency and Bankruptcy Code, 2016 by Insolvency Professionals.

Complaint filing became easy after amendment in Gujarat RERA Rules

The Gujarat RERA has come up with some latest amendment introducing new procedure for complaint filing and redressal. It introduced necessary changes through regulations and amendments.