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Mere non execution of agreement for sale, allottees are not precluded from invoking section 18 of RERA, 2016 – Mr. Benedict Fernandes Vs. Kohinoor Developers – Maharashtra REAT

Mere non execution of agreement for sale, allottees are not precluded from invoking section 18 of RERA. The provisions of Section 18 of RERA Act can equally be invoked in terms of oral or formal agreement executed by the promoter/ developer such as booking letter/ confirmation letter/ letter of allotment, correspondence etc. capable of being construed as an agreement. Admittedly, the present project is an ongoing project. As per view taken by this Tribunal in catena of cases all provisions of RERA are applicable to this project.

Mere non execution of agreement for sale, allottees are not precluded from invoking section 18 of RERA, 2016 – Mr. Benedict Fernandes Vs. Kohinoor Developers – Maharashtra REAT Read Post »

Objection(s) to a Scheme of Compromise or Arrangement(s) under Section 230 of the Companies Act, 2013 – The Indian Performing Right Society Ltd. Vs. Novi Digital Entertainment Pvt. Ltd. and Anr. – NCLAT New Delhi

Hon’ble NCLAT held that even a person having pecuniary claim against the Company whether actual or contingent is a Creditor. There is no straight jacket cast iron formula that objections were to be raised, only at the time final hearing not at the time of admission. Raising of an objection, to a Scheme of Compromise or Arrangement means filing of an application before the Tribunal.
It cannot be gainsaid that since the Creditors were given a right, to file Objection, they were equally entitled, to prefer an objection, even without the threshold credit limit, mentioned in Proviso to Section 230(4) of the Companies Act, 2013.

Objection(s) to a Scheme of Compromise or Arrangement(s) under Section 230 of the Companies Act, 2013 – The Indian Performing Right Society Ltd. Vs. Novi Digital Entertainment Pvt. Ltd. and Anr. – NCLAT New Delhi Read Post »

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