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NBCC To Lead Completion Of Supertech's Stalled Projects, Securing Homebuyers' Rights
3 days, 3 hours ago

NBCC To Lead Completion Of Supertech's Stalled Projects, Securing Homebuyers' Rights

Live Law  

In a landmark judgment, the National Company Law Appellate Tribunal Delhi bench comprising Justice Ashok Bhushan and Barun Mitra has approved NBCC Ltd.'s proposal to complete 16 incomplete projects of Supertech Limited. In an application filed by NBCC Ltd., the Supreme Court on 01.10.2024 directed that the pendency of appeals would not hinder NCLAT's examination of NBCC's proposal for 17 …

Corporate Financial Homebuyers Corporate Debtor Proposal Tribunal Noida
Haryana RERA warns real estate promoters to submit annual reports within 30 days or pay ₹5 lakh fine
3 weeks, 4 days ago

Haryana RERA warns real estate promoters to submit annual reports within 30 days or pay ₹5 lakh fine

Hindustan Times  

In response to repeated non-compliance of mandatory submission of annual reports of the real estate projects under construction, the Haryana Real Estate Regulatory Authority, Gurugram, has warned real estate promoters to submit annual reports within 30 days to avoid a penalty of ₹5 lakh. Haryana Real Estate Regulatory Authority, Gurugram, has warned real estate promoters to submit annual reports within …

Promoters Gurugram Estate Real Act Rera 30 Days
The Forgotten Creditors: IBC's Dual Approach For Homebuyers And Other Consumers
3 months, 3 weeks ago

The Forgotten Creditors: IBC's Dual Approach For Homebuyers And Other Consumers

Live Law  

The Insolvency and Bankruptcy landscape in India underwent a significant transformation with the enactment of the Insolvency and Bankruptcy Code in 2016. Homebuyer as Financial Creditor| RERA-IBC Standoff Under the Insolvency and Bankruptcy Code 2016, creditors are categorized into two distinct groups: financial creditors, defined under Section 5, and operational creditors, defined under Section 5. The NCLAT also in the …

India Consumer Financial Insolvency Homebuyers Ticket Rera
Economic Survey 23-2024: Nearly 1.25 lakh complaints resolved by real estate regulatory authorities of various states
5 months ago

Economic Survey 23-2024: Nearly 1.25 lakh complaints resolved by real estate regulatory authorities of various states

Hindustan Times  

As per the 2023-24 Economic Survey tabled by Union Finance Minister Nirmala Sitharaman in the Parliament on July 22, a total of 1,24,947 cases were settled by Real Estate Regulatory Authorities of various states as of July 1, 2024. As of July 1, 2024, nearly 1.25 lakh complaints were resolved by real estate regulatory authorities of various states, according to …

India States Regulatory Economic Survey Project Estate
UP-RERA Introduces Digitally Signed QR-Coded Project Registration Certificate
9 months, 1 week ago

UP-RERA Introduces Digitally Signed QR-Coded Project Registration Certificate

Live Law  

The Uttar Pradesh Real Estate Regulatory Authority has introduced digitally signed QR-coded project registration certificates and directed builders to prominently display these certificates featuring QR codes at both corporate and project site offices. Certificates will contain essential project details such as the project name, builder's name, registration number, duration, start and completion dates, project addresses, and key conditions of registration, …

Registration Home Buyers Project Certificate Qr Codes Rera Certificates
NCLAT New Delhi: RERA Has Locus To Appeal Against CIRP Initiation Order And Is An “Aggrieved Person” U/S 61 Of IBC
11 months, 4 weeks ago

NCLAT New Delhi: RERA Has Locus To Appeal Against CIRP Initiation Order And Is An “Aggrieved Person” U/S 61 Of IBC

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising Justice Ashok Bhushan and Barun Mitra has held that the Real Estate Regulatory Authority has locus to challenge Corporate Insolvency Resolution Process initiation Order in Real Estate Insolvency in appeal under Section 61 of Insolvency and Bankruptcy Code, 2016 before NCLAT. Contentions of the Parties: RERA contended that the CIRP …

Appeal Corporate Corporate Debtor Order Person Rera Nclat
Reimagining Insolvency Resolution: Reverse CIRP A Game-Changer For India’s Real Estate Sector
1 year, 1 month ago

Reimagining Insolvency Resolution: Reverse CIRP A Game-Changer For India’s Real Estate Sector

Live Law  

The real estate industry is one of the thriving sectors in the modern business world. Therefore, in 2020 the National Company Law Appellate Tribunal developed the novel concept of ‘Reverse CIRP’ within the framework of the Insolvency and Bankruptcy Code, 2016, allowing the Promoter to induce funds in a specific real estate project as a lender while remaining outside the …

India Real Estate Insolvency Resolution Homebuyers Financial Institutions Project
Robust Regulatory Mechanism & Draft Agreement Already Prescribed Under RERA: Centre Tells Supreme Court In Plea Seeking Model Builder Buyer Agreement
3 years ago

Robust Regulatory Mechanism & Draft Agreement Already Prescribed Under RERA: Centre Tells Supreme Court In Plea Seeking Model Builder Buyer Agreement

Live Law  

Responding to a plea seeking a model builder buyer agreement, the Central Government has submitted before the Supreme Court that a robust regulatory mechanism and draft 'agreement for sale" has already been prescribed under the provisions of RERA.According to Centre, the mechanism prescribed under RERA seeks to balance the rights and interest. Responding to a plea seeking a model builder …

Court Sale Interest Agreement Centre Rera Provisions
Increased Threshold: Magical Figure For Allottees Under The Insolvency And Bankruptcy Code, 2016
3 years, 10 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
State To Widely Publicise RERA Act To Prevent Criminalisation Of Property Disputes: Orissa HC Holds Investor Protection Laws Inapplicable To Builder-Buyer Relations [Read Judgment]
4 years, 3 months ago

State To Widely Publicise RERA Act To Prevent Criminalisation Of Property Disputes: Orissa HC Holds Investor Protection Laws Inapplicable To Builder-Buyer Relations [Read Judgment]

Live Law  

The Orissa High Court last week asserted that the State Government will do well to give wide publicity to the provisions of the RERA Act, 2016 in order to "enable the lay and laity to seek refuge under the appropriate law" and "injunct any unnecessary litigations" arising out of builder-buyer relations. Observing that the State will do well to ensure …

Case State Estate Real Act Bench Rera