MahaRERA comes up with non-negotiable clauses in model agreements for sale
December 15, 2022
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has come up with non-negotiable clauses in the model agreement for sale. Under this, developers cannot modify the information which is necessary to be put into the agreement document. This will enable transparency...
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Focus on governance, business conduct, data protection: RBI governor to fintechs
December 15, 2022
On Wednesday, Reserve Bank of India (RBI) governor Shaktikanta Das advised fintech to pay close attention to governance, business conduct, data protection, customer centricity, regulatory compliance, and risk mitigation frameworks. At a meeting with a select fintech firm, Das reiterated..
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Sebi planning 'micro' REITs to boost nascent market: Source
December 15, 2022
India's market regulator is planning to allow "micro" real estate investment trusts (REITs), according to a senior official, to bring a wider set of property companies to the nascent market as India emerges from a pandemic-induced lull. The Securities and Exchange Board of India..
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IBC Does Not Prohibit An Assignee From Continuing Pending Section 7 Proceedings: NCLAT Delhi
December 15, 2022
The National Company Law Appellate Tribunal ("NCLAT"), while adjudicating an appeal filed in Siti Networks Ltd. v Assets Care and Reconstruction Enterprises Ltd. & Anr., has held that there is no prohibition in the IBC or any of the Regulations..
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Asset Reconstruction Companies as Resolution Applicants
March 24, 2021 EDITORIAL TEAM INSOL India
The inconsistency between the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 and those of the IBC regarding asset reconstruction companies (“ARCs”) had come up recently when the resolution plan submitted by..
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IBC emerges as major mode of NPA recovery
March 15, 2021 EDITORIAL TEAM INSOL India
Non-performing assets (“NPAs”) recovered by scheduled commercial banks by way of CIRP under the IBC increased to about 61 per cent of the total amount recovered. IBC, under which recovery is incidental to the rescue of companies, remained the dominant..