Browsing Tag

welfare associations insolvency

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In a significant win for homebuyers, MahaRERA and the Appellate Tribunal upheld a 2005 booking despite the handling director's death and promoters' denial of knowledge, directing execution of agreement for an equivalent flat or refund with interest — a reminder of RERA's buyer protections even in legacy cases.

Flat Delayed, Money Stuck? 98 Mumbai Buyers Dragged the Builder to Bankruptcy Court – Here’s How Section 7 Saved Them

In the Avenue 54 case, NCLAT upheld homebuyers’ right to file insolvency petitions via associations, provided proper authorizations are in place. This article explains Section 7 of IBC, who can use it, and why it’s a powerful tool against errant builders.