On 7th November, 2024, the Insolvency and Bankruptcy Board of India has released a discussion paper on the issues related with the Real Estate with seven proposals. Proposed Inclusion of Land Authorities in Committee of Creditors Meetings In corporate insolvency resolution processes involving real estate companies land authorities are crucial but currently they not represented in the Committee of Creditors. …
From non-recovery of licence fees/rent from small flat allottees to delayed deposit of licence fees/rent into the government account, Chandigarh Housing Board is rife with irregularities, an audit by the director general of audit, Chandigarh, has found. Chandigarh Housing Board, an undertaking of the UT administration, was established in 1976 to provide affordable and quality housing to individuals lacking shelter …
The Chandigarh Housing Board on Monday cancelled allotment of 16 small flats over non-payment of dues. The CHB has allotted approximately 18,138 flats under the Small Flats Scheme, including 2,000 flats under the Affordable Rental Housing Complex scheme. Board officials stated that allotment of around 16 small flats had been cancelled in accordance with Clause 16 of the Chandigarh Small …
In a relief to homebuyers who had been given possession of their homes but were left in a lurch after the builder’s company was declared insolvent, the Insolvency and Bankruptcy Board of India, in its latest amendment, has said that assets in a real estate project that have been handed over to the allottees would be exempted from liquidation process. …
Multibagger IPOs in 2023: As we are just a fortnight away from the new year 2024, it is very important to scrutinize your portfolio and the kind of return you have got from various asset investment. The public issue of this state-owned PSU was launched at ₹30-32 per equity share and the public issue listed on BSE and NSE at …
