Homebuyers’ Conundrum = Damned If You Do; Damned If You Don’t
by Akaant K. Mittal* and Bhavana Garg**
Homebuyers’ Rights
Forensic Audit of Project Accounts Permissible During CIRP; Rajasthan RERA Holds Section 14 IBC No Bar to Regulatory Inquiry
With expenditure claimed at 75—77% of project cost against actual physical progress of only 48.13%, the Authority ordered a limited forensic audit of the Avalon Royal Park project, distinguishing the RERA audit from IBC insolvency audit provisions and holding that the two frameworks can operate harmoniously without conflict.
‘Delays arising from statutory compliance not force majeure’; NCLT admits insolvency proceeding against Raheja Developers
The NCLT held that non-delivery of possession despite payments and continued acknowledgment of liability through emails and communications proved default under Section 7 IBC.