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Articles for Allottees, search results for project

NCLT New Delhi Initiates Insolvency Proceedings Against Revital Reality Private Limited For Financial Debt And Default
6 months, 2 weeks ago

NCLT New Delhi Initiates Insolvency Proceedings Against Revital Reality Private Limited For Financial Debt And Default

Live Law  

The National Company Law Tribunal Court V, New Delhi bench of Mahendra Khandelwal and Dr Sanjeev Ranjan has initiated insolvency proceedings against Revital Reality Private Limited noting that it failed to deliver possession of the residential units within the stipulated time frame. The bench noted: “…it is clear that the applicants are Financial Creditors and the debt owed to them …

Corporate Financial Nclt Possession Petition Default Allottees
Relief for homebuyers: Allotted flats will not be part of liquidation process, says insolvency and bankruptcy board
10 months, 1 week ago

Relief for homebuyers: Allotted flats will not be part of liquidation process, says insolvency and bankruptcy board

Hindustan Times  

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. …

Corporate Insolvency Homebuyers Resolution Professional Process Units Amendment
Section 7 Petition Seeking ‘Joint’ CIRP Of Separate Corporate Entities Involved In Common Real Estate Project Is Maintainable: NCLAT Delhi
1 year, 1 month ago

Section 7 Petition Seeking ‘Joint’ CIRP Of Separate Corporate Entities Involved In Common Real Estate Project Is Maintainable: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has held that a petition under Section 7 of IBC, filed by allottees for joint CIRP of separate corporate entities involved in a common real estate project is maintainable. The NCLAT while upholding the maintainability of such Section 7 petition, has observed as …

Corporate Resolution Application Agreement Project Appellants Units
HSVP to demolish 1,088 EWS homes in Sector 47, monetise prime land
1 year, 5 months ago

HSVP to demolish 1,088 EWS homes in Sector 47, monetise prime land

Hindustan Times  

Haryana Shahari Vikas Pradhikaran has decided to demolish 1,088 homes meant for the economically weaker sections in Sector 47 and monetise the prime land on which these were constructed, which is adjacent to the district centre and a Metro station is also proposed to come up there, said officials in the know of the matter. HSVP officials said around five …

Homes Gurugram Officials Sector Ews Hsvp Prime Land
Flats Sold After Completion Of Construction To Be Included In Computation Of Threshold Limit Under Section 7, IBC: NCLT New Delhi Reiterates
1 year, 7 months ago

Flats Sold After Completion Of Construction To Be Included In Computation Of Threshold Limit Under Section 7, IBC: NCLT New Delhi Reiterates

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising Shri P.S.N Prasad and Dr. Binod Kumar Sinha, while adjudicating an application under Section 7 of Insolvency and Bankruptcy Code, 2016 in Uttam Singhal & Ors vs M/s Anushree Home Developers Ltd.& Anr. has reiterated that the persons to who flats have already been sold after completing the construction would still …

Construction Project Tribunal Limit Threshold Towers Allottees
Increased Threshold: Magical Figure For Allottees Under The Insolvency And Bankruptcy Code, 2016
3 years, 11 months ago

Increased Threshold: Magical Figure For Allottees Under The Insolvency And Bankruptcy Code, 2016

Live Law  

The status of homebuyers as a class of financial creditors and their right to initiate the Corporate Insolvency Resolution Process against the builder/developer under the Insolvency and Bankruptcy Code had traversed a very long journey which witnessed various legislative amendments and Supreme Court's decision on the constitutionality of those amendments. This journey of homebuyers perhaps reached a destination with the …

India Supreme Court Court Homebuyers Amendment Estate Real
SC Upholds Changes in IBC to Initiate Case Against Debtor Firms
3 years, 11 months ago

SC Upholds Changes in IBC to Initiate Case Against Debtor Firms

News 18  

In a significant verdict, the Supreme Court Tuesday upheld amendments made by Parliament in the Insolvency and Bankruptcy Code which made changes including that either one hundred home buyers or ten per cent of allottees of a housing project will be needed to initiate insolvency resolution process against defaulting real estate firms instead of earlier provision which permitted even a …

Law Corporate Insolvency Resolution Process Project Legislature
No Bank Will Auction Loan Defaulting Projects in Haryana, Says HRERA in Landmark Judgment
4 years, 3 months ago

No Bank Will Auction Loan Defaulting Projects in Haryana, Says HRERA in Landmark Judgment

News 18  

In a landmark judgment, the Haryana Real Estate Regulatory Authority has ensured that no bank or financing agency would auction or sell a loan defaulting project to recover adjustment of the allottees dues. Khandelwal said there has been a rampant increase of complaints in which a peculiar trend was noticed where promoters mortgage their project, land or structure as well …

Bank Project Allottees Khandelwal Hrera Loan Defaulting