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INSOLVENCY OF BUILDER
Builder insolvency delays your flat possession? Know how the new IBBI amendment can protect homebuyersThe Insolvency and Bankruptcy Board of India (IBBI) amended the insolvency rules with the aim of giving relief to specified homebuyers who ...- Adani Enterprises has finally got strong winds filling its sailsAdani Enterprises’ outlook is improving as several incubated businesses reach commercial scale. CARE Ratings has upgraded AEL to AA, citing...
- SC rejects proposal of Parsvnath Developers for homebuyers, asked it to file anotherThe Supreme Court rejected Parsvnath Developers’ proposal on handing over flats or repaying homebuyers, calling it another device to delay ...
- Paid Rs 46 lakh for flat in 2019, but builder didnt deliver even after 6 years; wealth manager shares how buyer got Rs 1 crore payout from courtA Chennai couple who paid Rs 46 lakh for a flat in 2019 allegedly waited years without receiving possession, while continuing to pay both r...
- Builder declares insolvency, buyer pays the price: BJP MP Bajpai demands RERA overhaul in Rajya SabhaThousands of homebuyers are facing distress as builders declare insolvency, leaving projects incomplete. Uttar Pradesh BJP MP Laxmikant Baj...
- 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...
- India mulls rules for quicker resolution of builders’ insolvencyThe proposed change to the nation’s Insolvency and Bankruptcy Code will permit resolution of the cases on a project-wise basis, people fami...
- SC upholds IBC amendments mandating minimum threshold for insolvency process against developersHomebuyers had argued that this was discriminatory and placed homebuyers at a disadvantage as they would have to herd a minimum number befo...
- Proposed amendment to insolvency law: Jayant Sinha to meet homebuyers' lobbyAbout 10 days ago, the Forum for People’s Collective Efforts had written to the committee saying the threshold requirement was suggested by...
- Homebuyers seek PM's help on right to take errant realtors to NCLTLast year, the government amended the Insolvency & Bankruptcy Code to treat homebuyers as financial creditors and allowing them to initiate...
- Homebuyers submit proposal suggesting ways to improve UP-RERA ActHomebuyers in Gautam Budh Nagar have submitted an eight-point proposal suggesting ways to improve the UP-Rera Act ahead of the real estate ...
- 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 ...
- IBBI amends norms, notifies procedures for home buyers under insolvency proceedingsThe IBBI Regulations have been amended following the government coming out with an ordinance amending the IBC in June.
- Just one homebuyer is all that is needed drag a rogue builder to bankruptcy courtUnder the Insolvency and Bankruptcy Code Amendment Ordinance, 2018, homebuyers will get due representation in the committee of creditors.
- NCLT suspends Unitech board; government may take overThe NCLT has clarified that its interim order will be subject to compliance with Supreme Court directives.
- Buyers seek Rs 15,000 crore cover from JaypeeThey have also requested that an escrow account be created with the buyers, for the protection of funds that are to be deposited by buyers ...
- 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.
- Home buyers reject Jaypee's offer on flats, want actionThey are claiming that the builder is evading his original commitment as the total delivery will not be completed before 2022.
- 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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