Browsing Tag

Insolvency and Bankruptcy Code

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In a major boost for homebuyers, the Supreme Court has ruled that merely leasing or renting out a purchased residential flat does not disqualify buyers from filing consumer complaints against builders for delays or unfair practices. The verdict in Vinit Bahri vs MGF Developers restores a dismissed case and clarifies that builders must prove "commercial purpose" to exclude consumer status.

Supreme Court Brings Massive Relief to Thousands of Greater Noida Homebuyers: Stalled Earth Projects to Resume Soon

“After 10 years of waiting, hope is finally here! Supreme Court orders resumption of stalled Greater Noida projects — Earth Towne, TechOne & Sapphire Court. No extra payment for homebuyers. GNIDA penal dues waived. Projects to restart from June 2026. A big win for thousands of families! 🏠⚖️”
ED allows release of assets attached under PMLA to support insolvency resolution under IBC.

ED Allows Release of Attached Assets to Help IBC Resolution, Boost Recovery for Banks & Homebuyers

ED and IBBI introduce a unified mechanism allowing release of PMLA-attached assets for IBC resolution. This move is expected to unlock value in stalled insolvency cases and improve recovery for creditors and homebuyers.
Bombay High Court dismisses a plea to force Indian Bank into a loan settlement, affirming that borrowers cannot demand OTS. The ruling prioritizes banks’ rights to recover public funds.

Bombay High Court: Borrowers Can’t Force Banks to Settle Defaulted Loans

Bombay High Court dismisses a plea to force Indian Bank into a loan settlement, affirming that borrowers cannot demand OTS. The ruling prioritizes banks’ rights to recover public funds.