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
Admitting the insolvency pleas of two home buyers against Emaar MGF Land, a two-member bench headed by National Company Law Tribunal (NCLT) president justice MM Kumar, has appointed Manoj Kumar Anand as the interim … 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
Do not play smart, or we will render you homeless. This was the Supreme Court’s categorical warning to real estate major Amrapali Group, which is accused of delaying its projects to the detriment of … READ FULL STORY
Banks and financial institutions (FIs), which have lent money to Jaiprakash Associates Limited (JAL), on July 17, 2018, urged the Supreme Court that the assets of holding firm JAL, should not be used for … 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
Maintaining that it was ‘fully committed’ to construct homes and make payments to home buyers for the delay in handing over possession, Jaiprakash Associates Ltd (JAL) has also sought the constitution of a committee, … 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
The cabinet headed by prime minister Narendra Modi, on May 23, 2018, approved the promulgation of an ordinance to amend the Insolvency and Bankruptcy Code 2016 (IBC), minister for law and justice Ravi Shankar … READ FULL STORY
In a welcome news for home buyers, the union cabinet, on May 23, 2018, has reportedly approved amendments to the Insolvency and Bankruptcy Code (IBC) 2016, allowing home buyers the status of financial creditors. … 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
