PROPOSED CHANGES UNDER THE IBC FOR HOMEBUYERS WILL SEND A WRONG MESSAGE

Posted by Arpit Marwah
On December 4, 2019
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IBC Code, IBC FOR HOMEBUYERS, NCLAT, NCLT, Who are homebuyers?

Since last two months, the afore mentioned news is being circulated which has sent shock waves across the nation. It is being reported that the government is mulling over an idea wherein once over 100 similar homebuyers are together only then insolvency proceedings could be initiated against the developer under IBC, 2016 before the appropriate […]

SUPREME COURT ALLOWS FRESH RESOLUTION FOR AMTEK; STAYS ORDER OF NCLT CHANDIGARH

Posted by Arpit Marwah
On September 30, 2019
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SUPREME COURT ALLOWS FRESH RESOLUTION FOR AMTEK;

Amtek Auto gets a ray of hope by the recent order of issuance of fresh bids Amtek Auto, an integrated component manufacturing company, established in 1985 is on the verge of revival instead of going into liquidation, considering the Supreme Court’s latest decision of putting a stay on National Company Law Tribunal’s (NCLT) decision. Background […]

Haryana Rera Changes Rules Once Again; Authority to Decide Refund Cases

Posted by Arpit Marwah
On September 26, 2019
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Real Estate Regulatory Authority

PARENT ACT The Real Estate (Regulation and Development) Act, 2016 (henceforth denoted as RERA Act, 2016) was enacted in the year 2016 for the purpose of regulating the real estate sector and also to protect the aggrieved homebuyers. Henceforth, for the purposes of carrying out the provisions of the Act and implementation of the Law, […]

Nclat helds that no ‘Resolution Plan’ can be approved discriminating the dissenting ‘Financial Creditor

Posted by Arpit Marwah
On September 19, 2019
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NCLAT, NCLAT Approves Resolution Plan

Forum: NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Citation: Company Appeal (AT) (Insolvency) No. 745 of 2018 Previous order: Dated 17th October, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi in (IB)-01(PB)/2017) IN THE MATTER OF: Hero Fincorp Ltd. […]

In exceptional circumstances, if the ‘Corporate Debtor’ is MSME

Posted by Arpit Marwah
On September 6, 2019
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In exceptional circumstances, if the ‘Corporate Debtor’ is MSME, it is not necessary for the Promoters to compete with other ‘Resolution Applicants’ to regain the control of the ‘Corporate Debtor’ In Saravana Global Holdings Limited And And. Vs. Bafna Pharmaceuticals & Ors., the Hon’ble Appellate Tribunal dismissed the appeal filed by the Appellant by holding […]

Supreme Court Upholds IBC Amendments Giving Financial Status To The Home buyers

Posted by Arpit Marwah
On August 19, 2019
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Supreme Court upholds home buyers

Big victory for the home buyers as the Top Court on Friday upheld the Government’s amendment in IBC whereby home buyers were given the status of financial creditors. Now, the home buyers can take the guidance and relief from the three regulating law bodies- RERA (Real Estate Regulation Act), Consumer Protection Act and IBC. This […]

NCLAT: Financial Service Provider Do not Come Within The Meaning of Corporate Person/Corporate Debtor

Posted by Arpit Marwah
On August 7, 2019
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corporate creditor meaning, corporate debtor definition, corporate debtor ibc, corporate debtor insolvency code, corporate debtor meaning under ibc, definition of corporate debtor under ibc, IBC for Corporate Debtors, who is a corporate debtor under ibc

NCLAT rejected HDFC’S Insolvency Plea against RHC Holding; holds that RHC is a non-banking financial institution who is carrying on business of financial institution and thereby it being financial service provider do not come within the meaning of Corporate Person/Corporate Debtor * Last year on 6th Dec, 2018 the NCLT found that RHC holding was […]

COMPENSATION IN A CHEQUE BOUNCE CASE UNDER SECTION 143A & 148 OF THE NEGOTIABLE INSTRUMENT ACT

Posted by Arpit Marwah
On July 29, 2019
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Section 143-A of the Negotiable Act empowers any court while trying an offence for dishonor of a cheque to direct the drawer, who is the issuer of the cheque, to pay interim compensation to the complainant. The amount of compensation payable cannot exceed 20% of the amount as stated in the cheque. This amount has […]

Amrapali: RERA Registration Cancelled By The Supreme Court Of India

Posted by Arpit Marwah
On July 25, 2019
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Rera, rera delhi ncr, RERA Registration Cancelled, rera registration fees, rera registration number

Good news for home buyers as Supreme Court cancels Amrapali’s RERA Registration, handover NBCC to complete it’s pending projects. On 23rd July, the Supreme Court has given its judgement on Amrapali group as it cancelled it’s registration under RERA( Real Estate Regulation Act, 2016). Further, it ordered NBCC (National Buildings Construction Corporation) to complete all […]

What will amount to a dispute under IBC, 2016?

Posted by Arpit Marwah
On July 22, 2019
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Insolvency and Bankruptcy code, insolvency and bankruptcy code 2016, insolvency and bankruptcy code 2018, insolvency and bankruptcy code explained, insolvency and bankruptcy code prs, insolvency and bankruptcy code upsc

Debt recovery in India has been a debate and challenge with creditors and debtors disputing for rights and obligations in legal wrangles under various provisions and under various applicable laws which all make it time consuming and costly affair. ✓ The Insolvency and Bankruptcy code (IBC),came into existence on 28th may, 2016 with a motive […]

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