Corporate Law articles

Rights and Duties of a Buyer i.e. Allotte under RERA and Model AFS

Introduction: This article discusses in detail the rights and duties of a buyer / allottee under RERA and model agreement for sale (Model AFS)....

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Posted Under: Corporate Law |

Fast Track Insolvency Process of Corporate Person (Chapter IV of Part II of the Code)

Fast Track Insolvency Process of Corporate Person (Chapter IV of Part II of the Code) SECTION 55 -58 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016, READ WITH IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 CHAPTER II, PART II OF THIS CODE (Procedural Manner) CHAPTER VII, PART II OF THIS CODE (Offence...

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Posted Under: Corporate Law |

Function & Duties of Promoter (i.e Builder / Developer) under RERA

This article discusses about Promoters, their functions and duties under Real Estate (Regulation and Development), 2016. A person who develops land into a project for the purpose of selling to other persons all or some of the plots in the said project, whether with or without structures thereon; or...

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Posted Under: Corporate Law |

Anti Virus Security come across a new strain of Petya Ransomware

Anti Virus Security Labs has come across a new strain of Petya Ransomware that is affecting users globally. This clearly looks like early signs of a new ransomware attack that is spreading fast across the globe....

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Posted Under: Corporate Law |

Critical Analysis on Insolvency and Bankruptcy Code, 2016

NCLT i.e. Adjudicating Authority (Section 5(1)) has recently held that after admission of petition, nature of petition changes to representative suit and the lis doesnt remain only between operational creditor and operational debtor. ...

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Posted Under: Corporate Law |

Court admits defamation complaint filed by Tata Trusts officials against Cyrus Mistry

Mumbai court has admitted a criminal defamation complaint filed by Venkataramanan, one of the trustees of Tata Trusts against former Tata Group Chairman, Cyrus Mistry, wherein he has demanded a compensation of Rs. 500 crore from Cyrus Mistry for making a defamatory statement against him....

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Posted Under: Corporate Law |

Buyer is The King-That’s what RERA is all about !!

Finally, after a long span of time, to regulate an unorganised sector i.e. Real Estate, The Real Estate (Regulation and Development) Act, 2016 (RERA) came into picture. Prior to which the real estate sector was not regulated by any particular Authority. It is used to be the most un-organised sector...

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Posted Under: Corporate Law |

Review of RBI directive regarding provisioning on debts referred to NCLT under IBC 2016

Code will facilitate early, transparent and fair resolution of liquidity problems. Hence, the position of lenders under the Code is much better compared to earlier laws as discussed above. Therefore, there is no justification whatsoever in RBI directive to banks to create provision of 50% of the outstanding debt at the time of application...

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Posted Under: Corporate Law |

IBC 2016: A Resolution Mechanism or Recovery Tool or Both

We have a unique law in the name of Insolvency and Bankruptcy Code -2016 in force in whole of India except part 111 shall not extend to the state of Jammu and Kashmir. This Act is called a code and not an Act because it is a compendium of many acts meaning thereby with this code has caused the repeal of many acts...

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Posted Under: Corporate Law |

Maha RERA- 70% Rule -Illustration

Real Estate Regulation Act(RERA) Requires every Promoter(i.e, Builder) to set a side 70% of total receipt from Customer. This Amount can be withdrawn by CA+Architect+Engineers Certificate. Article shows illustration how to calculate Quantum of Amount that can be Withdrawn from such 70% a/c for Ongoing Project & New Project....

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Posted Under: Corporate Law |
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