The central government in India, in 2016, introduced a code to resolve insolvency cases amid a spike in the number of bankruptcies. This law is known as the IBC or the Insolvency and Bankruptcy … READ FULL STORY
Nearly three months after his company received an approval by the insolvency tribunal to complete the takeover, billionaire Ajay Piramal has completed the takeover process of embattled Dewan Housing Finance Corporation (DHFL), Piramal Group … READ FULL STORY
The lenders to debt-ridden Lavasa Corporation have decided to invite fresh bids for India’s first privately-built smart hill city near Pune. The financiers of the project, would now be terminating the former bids for … READ FULL STORY
The Mumbai Bench of the National Company Law Tribunal (NCLT) has directed the resolution professional (RP) of beleaguered property company Housing Development & Infrastructure (HDIL) to make available all relevant documents to the company’s … READ FULL STORY
Looking back, 2019 may not have been the best year for the real estate sector. However, with several changes introduced during the year, from reduction in taxes to the announcement of a Rs 25,000-crore … READ FULL STORY
The need of the hour, is to bring in amendments, to make the RERA the first forum for complaints pertaining to real estate, Satish Magar, president, CREDAI national, said. Magar was speaking at the … READ FULL STORY
The Reserve Bank of India (RBI) has proposed to allow companies faced with insolvency proceedings, to tap funds through external commercial borrowings, to repay their debts. As per the existing guidelines, the proceeds of … READ FULL STORY
Owning a home, for an average Indian, is a lifelong dream. There have also been numerous instances, where thousands of aspiring home buyers have suffered, owing to poor financial management on the part of … READ FULL STORY
Coming down heavily on the Amrapali Group, the Supreme Court, on September 4, 2018, observed that it appears that a ‘big scandal is taking place in the name of real estate business’ and termed … READ FULL STORY
The Supreme Court, on July 4, 2018, suggested that realty firm Jaiprakash Associates Limited (JAL) should pay Rs 600 crores, instead of Rs 1,000 crores ordered earlier, to refund the principal amount to the … READ FULL STORY
Maharashtra’s real estate regulator MahaRERA chief Gautam Chatterjee, while welcoming the central government’s decision to empower home buyers by giving them the status of financial creditors under the bankruptcy law, however, added that the … READ FULL STORY
In a major relief to over 42,000 home buyers, the Supreme Court, on May 17, 2018, allowed three co-developers to complete the 12 stalled projects of Amrapali Group, in the next six to 48 … READ FULL STORY
The Supreme Court, on May 16, 2018, ordered real estate firm Jaiprakash Associates Limited (JAL), to deposit an additional Rs 1,000 crores, by June 15, 2018, to refund money to the home buyers, if … READ FULL STORY
