The 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.
An insolvency petition admitted u/s 7, 9 or 10 can only be withdrawn by the appellant with approval from 90% of the creditors.
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.
RERA has been specifically setup to regulate the real estate sector therefore one must approach RERA before approaching NCLT.
RERA Authority order is not being complied with by the party or if we are precise, the builder is not paying the amount ordered by authority.
In a significant ruling, the National Company Law Tribunal (NCLT) Kolkata, comprising Smt. Bidisha Banerjee (Judicial Member) and Shri D. Arvind (Technical Member),
The Insolvency and Bankruptcy legislation is a comprehensive legislation that contains all of the required provisions for providing a haven for business debtors in difficulty.
The Insolvency and Bankruptcy Code, of 2016 introduced a paradigm shift in India’s corporate legal landscape. One of its most significant features is the overriding effect it has on other laws.
A person has the fundamental right to lodge a complaint or grievance to the court regarding any administrative action. The protection of fundamental rights and the assurance of natural justice are the two most important aspects of writ jurisdictions.
The impact of real estate agent specialization and activity level on market outcomes is significant. Specialization allows agents to develop expertise in their chosen field, leading to better-informed decisions and improved market outcomes for clients.
The major challenges in the insolvency resolution of real estate companies arise from the peculiarities of this sector, especially since the divergent interests of the allottees of the real estate projects do not align with the scheme of the CIRP.
The integration of GSTN with the PMLA would make it easier for different authorities to work together, which is essential for preventing money laundering and maintaining the integrity of the GST system.
The parliament in order to regulate this one of the fastest-growing sectors passed “The Real Estate (Regulation and Development) Act, 20164 which came into effect on 1st May 2016.
In India, a trademark is defined under the Trade Marks Act, of 1999. It is a recognizable mark or symbol that distinguishes the goods or services of one entity from those of others.
Interpreting the Insolvency and Bankruptcy Code 2016 and sheds light on its significance in shaping the insolvency and bankruptcy landscape in India.
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