In the press

In an exclusive interview, Santosh Pandey, CEO, Sarthak Advocates & Solicitors, shares his perspective on why the insolvency process of realty projects needs to undergo a sea-change.

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May 25th 2023

“Section 40 of RERA deals with the recovery of interest or penalty or compensation and enforcement of order, etc in case of noncompliance. And Section 43 sub-section 5 has been upheld where any promotor has to pay 30% of the penalty and in some cases 100 per cent of the interest.”
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May 24th 2023

To further strengthen the insolvency law regime, the government on Wednesday proposed a raft of changes, including fast-tracking the process, expanding the scope of the pre-packaged framework and developing an electronic platform with minimal human interface. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. The Code has already undergone various amendments.
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January 18th 2023

In November, India unveiled its new Digital Personal Data Protection Bill (DDPB) aimed at protecting the data of Indian citizens from private entities, including multinationals. The Indian government hopes to bring a comprehensive data privacy law along the lines of Europe’s Global Data Protection Regulation (GDPR).
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November-December 2022

Before renting a house in Delhi, Mumbai, and other metro cities, a few things you should keep in mind to avoid legal troubles and other inconveniences later on.
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November 22th, 2022

While certain essential tenets as to consent requirements for the processing of personal data have been retained from the earlier version of the bill, the distinction between sensitive personal data and personal data has been done away with.
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November 19th, 2022

The move may prove to be counter-productive and could dissuade genuine consumers from complaining against companies and possible violations, due to fears of penalty.
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November 19th, 2022

The Union government released the revised version of the Personal Data Protection Bill for public comments. The Bill, now called the Digital Personal Data Protection Bill, 2022. READ MORE

November 18th, 2022

Wills, Trusts, Family Councils, LLPs and more: here are the best practices to follow while dividing a business conglomerate amongst heirs. READ MORE

September 21st, 2022

The insolvency regulator has proposed to incentivise resolution professionals for making all-out efforts for maximisation of the value of stressed assets beyond their liquidation value, and for their timely resolution. READ MORE

September 15th, 2022

It’s high time people wake up to the fact that there are fake lending apps, and they could very well fall prey to it and lose a lot of money .READ MORE

July 27th, 2022

Check if the developer has obtained all the approvals and the property is free of any title dispute before buying. Also, check the agreement carefully and read the terms and conditions. READ MORE

May 20th, 2022

Though the number of globally cryptocurrency users is steadily growing, many countries are taking a tough stance on them. The number of global crypto users reached 106 million in January 2021, according to Crypto.com, a crypto research firm. At the same time, countries including China, Russia and Bangladesh, have banned cryptocurrencies. Though the Indian…READ MORE

Dec 14th, 2021

Transactions through the Unified Payments Interface (UPI) in India have increased 70 times in the last four years, says a recent report by the State Bank of India (SBI). However, as online transactions grow, the risk of frauds has also gone up manifold. What is UPI? UPI is a payment method under which users can link more than one bank account with a single mobile app…READ MORE

Nov 22nd, 2021

The Bank of Baroda (BoB) and the State Bank of India (SBI) will be hosting e-auction of properties on October 22 and 25, respectively. Both the banks have tweeted about their online auctioning events.
Banks put mortgaged properties on auction when the borrower defaults. To compensate for the loss, the banks put such properties on auction through the Indian Banks… READ MORE

Oct 21st, 2021

In case of default on repayment of a secured loan like a home or car loan, the biggest worry of a borrower is that they would have to part with the financed asset like the house, car etc. However, borrowers should know that even upon default, they have certain basic rights which cannot be overlooked by the lender. Here is a look at 4 important rights that defaulting borrowers have… READ MORE

Sep 21st, 2021

One situation that requires planning for and preparation to overcome, but is generally ignored, is that of an elderly member of one’s family becoming physically or mentally incapacitated to take any financial decisions legally or otherwise. “According to Indian law, any person who is not of sound mind cannot take substantial decisions such as entering into contracts… READ MORE

Sep 11th, 2021

Coronavirus is not out of the woods yet and the threat of the third wave is doing the rounds. While maintaining all Covid-19 protocols is the need of the hour, one also needs to ensure there is adequate health insurance coverage to fall back upon in times of hospitalization. But, of late, there have been apprehensions about the Covid-19 related insurance claims not being…READ MORE

Sep 2nd, 2021

What happens to the borrower if he/she defaults on a personal loan? In case of a secured loan like a home or car loan, the lender can take over the asset that is used as collateral to secure the loan. However, in the case of an unsecured loan like a personal loan, what is the legal recourse that a lender will take to recover dues from the borrower?
An unsecured loan does… READ MORE

Aug 29th, 2021

Buying a house is a tedious and time-consuming exercise. However, even after buying a house, there are a few important tasks that you must complete immediately. These tasks differ based on whether you bought a property in the primary (from a developer) or resale market. Other considerations are whether it’s an independent house or part of a housing society… READ MORE

July 29th, 2021

Real estate developers and industry bodies have urged the Uttar Pradesh government to come up with a pragmatic policy for the industrial development authorities of the state, especially Noida and Greater Noida, so that they can take quick decisions with respect to the projects undergoing the insolvency process.
Resolutions of multiple projects are on hold as the authorities want… READ MORE

July 14th, 2021

Some life insurers, including LIC, have recently launched non-participating, non-linked endowment policies. Unlike participating policies, which announce annual bonuses, these plans offer assured returns. They come with policy tenures of 10-20 years and offer either a fixed lump-sum amount at the end of the tenure or pre-decided pay-outs at regular intervals… READ MORE

July 12th, 2021

Not all divorces end amicably, as it’s happening in the case of Bill and Melinda Gates. Some can turn bitter, really bitter. Bharat Chugh, a Supreme Court advocate and a former judge, saw it first-hand when a man approached him for divorce after things got out of hand. “Besides the divorce, the couple also filed multiple other cases against each other. There was one related… READ MORE

Jun 28th, 2021