Browsing Tag

CIRP

2 posts
HDIL Insolvency Proceedings Stall MahaRERA Complaint – Homebuyers Left in Limbo

HDIL Insolvency Proceedings Stall MahaRERA Complaint – Homebuyers Left in Limbo

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has adjourned complaints filed by homebuyers against HDIL sine die due to the insolvency moratorium mandated under the Insolvency and Bankruptcy Code (IBC). The decision was held by Ravindra Deshpande on August 20, 2019, leaving homebuyers in uncertainty as they await resolution through the ongoing Corporate Insolvency Resolution Process (CIRP).
MahaRERA Order

NCLAT Ruling: Claims Arising Post-CIRP Cannot Be Entertained by Resolution Professionals

NCLAT has established that any claims emerging after the initiation of the Corporate Insolvency Resolution Process (CIRP) cannot be accepted by Resolution Professionals. The ruling came in the case of Gujarat Urja Vikas Nigam Ltd. vs. Mr. Udayraj Patwardhan, addressing the legality of a terminated Power Purchase Agreement during the insolvency process. The tribunal emphasized that claims must be filed in accordance with the CIRP commencement date, reinforcing the framework of insolvency law.