Amid growing sense of anxiety and confusion among home buyers of Jaypee Infratech projects, the insolvency resolution professional (IRP) has come up with a few clarifications regarding a resolution plan and chances of refund for stalled projects. The IRP has come up with a list of 27 projects under three land parcels where buyers can…
Moneycontrol News The big development over the week has been on the real estate front. In a move that would worry homebuyers, one of the large developers, Jaypee Infratech was declared insolvent by the National Company Law Tribunal (NCLT), causing ripples. Being declared insolvent means the developer would be able to avoid the stringent provision…
New DELHI: The Insolvency Resolution Professional (IRP) dealing with the Jaypee Infratech case has concluded that the current proceedings will cover apartments and plots spread across 27 projects in three land parcels and has ruled out any impact on projects being developed by Jaypee Associates, while also categorically stating that no refunds are possible. In…
Buyers of undelivered flats can now seek claims from an insolvent company under the revised regulations of insolvency law. IBBI (The Insolvency and Bankruptcy Board of India) on Wednesday night added a form-F for homebuyers. Earlier the homebuyers didnt have a specific form to be filled up to claim refund from a builder. The government…
DECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off. After all,…
The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Insolvency and Bankruptcy Code, has said owner of undelivered properties can become part of the committee of creditors and stake a claim equivalent to the amount they have paid to realtors. Their claims, according to the regulator, would be treated on…
By Kate Thomas for MailOnline Published: 17:29 +10:00, 18 August 2017 | Updated: 18:03 +10:00, 18 August 2017 e-mail 3 View comments They’re holidaying in Ibiza as a family following a difficult year, which has seen the former tennis ace declared bankrupt and the couple face rumours of a marital rift. But Lilly Becker was…
A dispute over Indian sandalwood producer Santanol Group has pitted 21 Western Australian investors, led by forestry veterans Bob Bunning and Tony Jack, against private equity giant KKR and its local representatives, including Jock Clough and incoming Wesfarmers executive Ed Bostock. At stake is control of an established sandalwood producer with 2,100 hectares of plantations,…
Eric Charbonneau/REX Shutterstock A hedge fund investor who loaned $2 million to Relativity Media just before it went bankrupt now claims he was swindled out of the money. Carey Metz, chief investment officer of Atorus Investment Management, filed suit on Thursday in L.A. Superior Court, accusing Relativity founder Ryan Kavanaugh of fraud. Metz alleges that…
By: ENS Economic Bureau | New Delhi | Published:August 18, 2017 4:27 am The government has introduced a new form under the insolvency law to enable a person who has to receive a payment from an insolvent company to seek the claim. This will enable persons such as homebuyers to make claims for undelivered flats…