Bombay High Court stays REAT order on Rs. 38.18 cr deposit in real estate dispute, ET LegalWorld
In a significant development, the Bombay High Court has stayed an order passed by the Real Estate Appellate Tribunal (REAT) that directed an allottee, Sachin Bajla, to deposit Rs. 38.18 Crores as a precondition for obtaining interim relief in a dispute with the developer, Honest Shelters Private Limited (HSPL). The dispute stems from the termination […]
NCLAT overturns NCLT decision on Indiabulls Real Estate merger, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) set aside the National Company Law Tribunal (NCLT), Chandigarh Bench Order interfering in the Scheme of arrangement between Indiabulls Real Estate Limited and NAM Estates Private Limited and Embassy One Commercial Property Private Ltd., ignoring the commercial wisdom of shareholders, creditors, and Board of Directors of the appellant […]
Bombay HC rules real estate disputes under RERA non-arbitrable, ET LegalWorld
MUMBAI: The Bombay High Court has ruled that a dispute between an individual allottee and a promoter covered by RERA is non-arbitrable. The jurisdiction of the Real Estate Regulatory Authority, established under the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), is not ousted, even if the agreement between the promoter and […]
NCLT approves Raymond’s plan to demerge real estate business, ET LegalWorld
The National Company Law Tribunal (NCLT) has approved the demerger scheme of Raymond Ltd, paving the way for the reorganisation of its real estate business into a separate entity, Raymond Realty. The move is aimed at unlocking the growth potential of the group’s real estate vertical and attract strategic investors. Raymond Ltd, the demerged company, […]
M/S Gaurav Rose Real Estate Pvt Ltd vs M/S Blue Horizon Hotels Pvt Ltd on 23 November, 2024
Karnataka High Court M/S Gaurav Rose Real Estate Pvt Ltd vs M/S Blue Horizon Hotels Pvt Ltd on 23 November, 2024 Author: H.P.Sandesh Bench: H.P.Sandesh 1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU RD R DATED THIS THE 23 DAY OF NOVEMBER, 2024 BEFORE THE HON’BLE MR. JUSTICE H.P. SANDESH M.F.A. NO.4806/2018 (CPC) BETWEEN: […]
Noida Mandates Flat Registration for Homebuyers Amid Real Estate Scandals, ET LegalWorld
Signing a tripartite ‘sale agreement’ at the time of purchase will be mandatory for builders and homebuyers in all new housing projects in the city. The Noida Authority board on Saturday made a basic change in the way real estate transactions are conducted in the city, through which it will know who a flat has […]
SC nod to real estate sector to claim input tax credits on construction costs, ET LegalWorld
In a big relief to the real estate sector, the Supreme Court on Thursday allowed the industry to claim input tax credits (ITC) on construction costs for commercial buildings meant for renting purposes. It said that if construction of a building is essential for supplying services like leasing/renting out, it could fall under the ‘plant […]
High Court Restrains Real Estate Firm Md From Sale, Transfer Of Properties, ET LegalWorld
The Punjab and Haryana high court has restrained Jarnail Singh Bajwa, the managing director (MD) of real estate company Bajwa Developers Private Limited, from alienating any of his property to any third party. The court has passed the orders considering a large number of FIRs pending for several years in which Bajwa has never been […]
Primary Real Estate Investments vs Deputy Commissioner Of Income Tax, … on 27 August, 2024
Delhi High Court Primary Real Estate Investments vs Deputy Commissioner Of Income Tax, … on 27 August, 2024 Author: Yashwant Varma Bench: Yashwant Varma $~40 & 41 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 27.08.2024 + W.P.(C) 10298/2022 SHAILY JUNEJA …..Petitioner Through: Mr. Sandeep Goel, Adv. versus ASSISTANT […]