Flat Owners’ Right to Deemed Conveyance Can’t Be Blocked by Developer’s Insolvency Proceedings: Bombay HC
The Bombay High Court has ruled that the pendency of Corporate Insolvency Resolution Proceedings (CIRP) against a developer or land holder cannot be used as a ground to deny or indefinitely postpone deemed conveyance proceedings under the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 (MOFA). The bench…

