19/07/2024

An allottee cannot be made to wait indefinitely for possession and in absence of any period, a period of three years appears to be just and proper to complete the project and hand over possession to the allottees in accordance with law in the backdrop of legislative intent of the RERA, 2016 – Sequin Real Estate Vs. Kailash Chandra Gupta – Rajasthan REAT

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An allottee cannot be made to wait indefinitely for possession and in absence of any period, a period of three years appears to be just and proper to complete the project and hand over possession to the allottees in accordance with law in the backdrop of legislative intent of the RERA, 2016 – Sequin Real Estate Vs. Kailash Chandra Gupta – Rajasthan REAT Read Post »

Can Resolution Professional/CoC revise maintenance fees and recovery of electricity dues from Allottees during the Real Estate Insolvency? | Whether payment of electricity charges being an essential service, such amount can be accounted towards CIRP costs and that the Corporate Debtor is not liable to pay the amount till the completion of the period of moratorium? – Sanskriti Allottee Welfare Association (Reg.) and Anr. Vs. Gaurav Katiyar RP Earthcon Universal Infratech Pvt. Ltd. and Anr. – NCLAT New Delhi

In this important judgment, Hon’ble NCLAT clarified following issues:

A. Is NCLAT/NCLT the competent forum to consider whether the association of allottees constituted or not?
B. Is it appropriate on the part of the RP to seek the approval of the CoC in the determination of maintenance fees and recovery of electricity dues?
C. Can after having been present Authorised Representative of allottees in the CoC meetings and exercised their voting rights, the allottees question the authority of the CoC to have made some business decisions?
D. Whether payment of electricity charges being an essential service, such amount can be accounted towards CIRP costs and that the Corporate Debtor is not liable to pay the amount till the completion of the period of moratorium

Can Resolution Professional/CoC revise maintenance fees and recovery of electricity dues from Allottees during the Real Estate Insolvency? | Whether payment of electricity charges being an essential service, such amount can be accounted towards CIRP costs and that the Corporate Debtor is not liable to pay the amount till the completion of the period of moratorium? – Sanskriti Allottee Welfare Association (Reg.) and Anr. Vs. Gaurav Katiyar RP Earthcon Universal Infratech Pvt. Ltd. and Anr. – NCLAT New Delhi Read Post »

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