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INSOLVENCY BUILDERS BANKS
Homebuyers taken to ransom: SC wants probe into builder-bank messThe Supreme Court has called for a CBI probe into the alleged collusion between builders and banks, impacting homebuyers in NCR. The bench ...- Builders under scrutiny: Supreme Court puts brakes on coercive action against NCR homebuyersThe Supreme Court protected NCR homebuyers awaiting possession by halting coercive actions over EMI payments. Builders must pay EMIs under ...
- NCLT admits insolvency plea against Shah BuildersCanara Bank had moved the bankruptcy court against the developer in 2020 following its default on loans worth nearly ₹100 crore including i...
- With India's new rules, home buyers will get much-needed relief and assuranceAmid rising real estate prices, concerns loom for home buyers fearing builder bankruptcy and legal woes, reminiscent of cases like Jaypee, ...
- NCLT approves Ashdan Developers’ resolution plan for D S Kulkarni DevelopersThe National Company Law Tribunal has approved a consortium led by Ashdan Developers for the resolution plan of D S Kulkarni Developers. Th...
- Banks can't be converted into builder to ensure completion of real estate project: Delhi High CourtIt is for the lenders to take appropriate legal action by approaching the civil forum to ensure that the project is completed within time, ...
- Naredco writes to Yogi, seeks help on land dues issue to save builders from bankruptcy"We wish to submit with great concern that banks and other financial creditors are bringing the developers and their projects into NCLT pro...
- Intervene on resolution, Jaypee’s Wish Town buyers ask House panelIn a letter to the parliamentary standing committee’s chairperson Jayant Sinha, homebuyers have urged him to resolve the deadlock with the ...
- Amrapali-like fraud won't recur: Centre to SCIt is now mandatory for real estate companies to deposit 70% of the money raised from homebuyers in a separate bank account which would be ...
- Will protect your interests, HC tells Jaypee homebuyersAs the homebuyers urged the bench to pass an interim order to stop liquidation of the company, the bench assured them that their interests ...
- Assured returns to home buyers is financial debt, rules NCLATArrears of assured returns and money owed to a buyer with whom an agreement is in place to make regular payments qualifies as ‘financial de...
- MBL Infrastructure gets closer to resolution planLenders collectively claimed about Rs 1,700 crore in loan defaults. The repayments, if approved, will happen through different mechanisms.
- Amrapali home buyers move Supreme Court for safeguarding interestsMore than 5000 flats were to be built in approximately 40 towers in a phased manner by the embattled group.
- Noida Authority submits claim for Rs 650 crore dues on Amrapali GroupHome buyers were asked to file their respective claims before the IRP by September 19.
- Now Jaypee Wish Town home buyers move SC, demand builder to deposit construction, compensation moneyHome buyers insisted that the interest of flat buyers needs to be protected by the SC before re-initiation of insolvency resolution process...
- Homebuyers move Supreme Court to ensure Jaypee pays for completing projectThe plea, filed by a group of nine home buyers’ associations, comes after IDBI Bank moved the apex court on Thursday for lifting the stay.
- Loans given by banks can’t have lesser priority: IDBIThe stay came on a petition by the builder’s customers who were yet to get possession of their flats and said the insolvency proceedings le...
- Yamuna Expressway Authority assures refunds to Jaypee home buyersThe decision of refunding the buyers' money was conveyed to the builder about three months ago. The first instalment of the refund is to be...
- Noida Authority seeks forensic audit of defaulting builders' fundsThe move follows reports of NCLT having admitted pleas of insolvency proceedings by several banks who wanted to recover their dues from the...
- Jaypee buyers float online petition to save builder from impending bankruptcyThe campaign has been started following a directive from the RBI to lending banks to file an application under insolvency and bankruptcy co...
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