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Regulation

1
Regulation

Want to take your errant builder to NCLT? Make sure you have the requisite number

In order to curb frivolous appeals that have been flooding NCLT, the government has brought an amendment through ordinance that sets a minimum threshold limit for approaching the tribunal with respect to realty projects – 100 homebuyers or 10% of total allottees in a project, whichever is lesser. While builders have applauded the move, homebuyers categorised it as arbitrary.

Regulation

Want to take your errant builder to NCLT? Make sure you have the requisite number

In order to curb frivolous appeals that have been flooding NCLT, the government has brought an amendment through ordinance that sets a minimum threshold limit for approaching the tribunal with respect to realty projects – 100 homebuyers or 10% of total allottees in a project, whichever is lesser. While builders have applauded the move, homebuyers categorised it as arbitrary.

Regulation

A 40% cut to execute an NCLT order: corrupt resolution officers are damaging the IBC regime

Increasing cases of corruption and other unethical practices among resolution professionals are being talked about in hushed voices. Besides demanding closer monitoring and stricter penalties, stakeholders and experts feel the system needs to be made transparent by mandating timely and detailed disclosures after the resolution professionals begin work.

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