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What and how Property Lawyers do their job

What’s real estate law all about? What's it that real estate lawyers do and how do they do it? These are the queries that pop up in one’s mind as one gets initiated in the real estate business and the only way one can get answers to these questions is by seeking advice. Oftentimes even after paying a couple of lakhs of rupees as a down payment on a flat, that is under construction the builder or developer does not start construction work on the plea that due to unforeseen circumstances, the construction work had to be withheld. A few months could very well have elapsed and the work may be pending. At this point, the developer/builder may be asked by the homeowner to clarify matters. Once the seemingly lackadaisical attitude of the developer is noticeable heated arguments may ensue followed by threats of a possible lawsuit by the homebuyer. The threat of a lawsuit is a deterrent for the contractor/builder who may retaliate by waiving off suing rights by signing one of the legal documents. Subsequently, the contractor who was unresponsive and had bolted would take the initiative of contacting the homebuyer. The homebuyer may ask the contractor to share copies of all relevant documents. If there is documentary evidence of waiving off suing rights amongst other rights then, in that case, it gets complicated, someone with little or no experience at all in real estate law ought to refer the case to an expert real-estate lawyer after providing initial legal advice.   Real estate laws, rules, and regulations Through networking, the extent of involvement in these matters is transparent. One may realize how real estate laws, rules, and regulations may affect one's daily lives. It can be intriguing knowing what is it that the real estate lawyers exactly do and more importantly how? The answer partially is - there are real estate law courses that qualify them to practice real estate law. Call 7604047601 for consultation with registered expert property lawyers on Vidhikarya.

Posted By

Avik Chakravorty

5 days ago

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India’s arguably generous maternity law benefits m...

In India, working mothers-to-be are far better-of than most of their peers in the developed world, however, the country’s maternity laws are archaic. A year or two ago, the country passed the Maternity (Amendment) Bill aimed at working women and their right to paid maternity leave from 12 weeks to 26 weeks which is the world’s third-highest. There is a no-win situation nonetheless — the law is meant for companies with a headcount of at least ten employees which is just a minuscule proportion of the working women of India.This limitation in maternity benefits is an upshot of the desire of the elite of India to merely mimic policies that are both purposed and executed in the West, without any sort of fine-tuning suiting Indian conditions. The maternity bill is an exemplary bill – phantom legislation that passes laws that don't have and in all probability will not be as effective as required. Progress or that one is doing something is an illusion, and is given, but the reality is something else. There is an ideological dimension to the law which is a part and parcel of what the Indian elite believes is good, just, and prestigious in communities transcending boundaries.Symbol of progressCanada and Norway are the only two countries, with GDPs per capita of 27 and 47 times higher than India’s, respectively, provide protracted maternity leaves in comparison with India. The moot point, however, isn’t the perception of generosity, but how the law is applied.It was estimated that the vast majority of Indian women shun work. While on the one hand the unorganized sector is comprised of over 80% of women working for companies with an employee headcount of less than ten. On the other hand, the organized sector comprises of 16% women workers, who do informal work, where the maternity law is not applicable.A more realistic assumption would be that a meagre 20% of the females work in the organized sector, then the law is potentially applicable to simply 1.3% of the workforce, or not even 1% of all females.Considering these off-the-cuff calculations, the unanswered question is why would India deplete its invaluable resources on ratifying a law that is applicable to a minuscule section of its growing population.Call 7604047601 for consultation with a registered expert maternity lawyer on Vidhikarya.

Posted By

Avik Chakravorty

1 week ago

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Consult Top Bankruptcy and Debt Lawyers in India

Prodyut  Banerjee

Prodyut Banerjee

Advocate
Exp
Kolkata , West Bengal

Specialization

  • Bankruptcy and Debt
  • Corporate and Incorporation
  • Commercial
  • Arbitration and Mediation
  • Consumer Protection
I am a Corporate Lawyer and Company Secretary having an experience of about sixteen years. Practicing at Calcutta High Court, NCLT and other Courts. I am dealing with all Commercial, Business and Corporate Legal matters. I am also dealing with Criminal matters involving White Collar Crime View Full Profile
Total Answers Given : 10
Mangesh  Yeole

Mangesh Yeole

Advocate
Exp
Akola , Maharashtra

Specialization

  • Bankruptcy and Debt
  • Banking
  • Cheque Bounce
  • Civil
  • Divorce
Hello, myself Adv Mangesh Yeole. A practicing advocate in Akola with over three years of experience in the field of criminal, family, consumer laws. Also provide services in drafting and registration of land and property verification report. Recovery suits and cheque bounce cases. View Full Profile
Total Answers Given : 7
Amrita  Pinto/ Saldanha

Amrita Pinto/ Saldanha

Advocate
Exp
Mumbai , Maharashtra

Specialization

  • Bankruptcy and Debt
  • Arbitration and Mediation
  • Cheque Bounce
  • Civil
  • Debt And Lending Agreement
A civil lawyer with 15 years of experience. View Full Profile
Total Answers Given : 1
Md. Nasim  Akhtar

Md. Nasim Akhtar

Advocate
Exp
Ranchi , Jharkhand

Specialization

  • Bankruptcy and Debt
  • Civil
  • Documentation
  • Tax
  • Tax-GST
Welcome to Adv NASIM AKHTAR:- where we offer professional services to sort your legal issues in a personal manner with utmost integrity and legal efficiency. We offer you the right kind of advice with all if's n buts' related to all your legal issues before different Courts and Forums. We provide hi View Full Profile
Arindom  Bit

Arindom Bit

Advocate
Exp
Kolkata , West Bengal

Specialization

  • Bankruptcy and Debt
  • Divorce
  • Industrial Laws
Advocate Arindom Bit has been practicing and handling cases independently with a result oriented approach, both professionally and ethically and has now acquired over 8 years of professional experience in providing legal consultancy and advisory services. Advocate Arindom Bit's office is in Hare St View Full Profile
Asha  Bhuta

Asha Bhuta

LAWYER, PROPRIETOR, PARTNER, MEDIATOR
Exp
Mumbai City , Maharashtra

Specialization

  • Bankruptcy and Debt
  • Property
  • Arbitration and Mediation
  • Banking
  • Divorce
I AM AN ADVOCATE, ENROLLED WITH BOMBAY BAR ASSOCIATION SINCE 1993. I HAVE MY LAW FIRM BY THE NAME OF BHUTA & ASSOCIATES. I AND MY TEAM PRACTICE IN CIVIL LAW. WE SPECIALIZE IN PROPERTY, BANKING, CORPORATE, FAMILY AND MANY OTHER FIELDS OF LAW. INTEGRITY, SINCERETY AND DETERMINATION IS OUR MOTO. View Full Profile
Sunil  Jain

Sunil Jain

Lawyer
Exp
Ghaziabad , Uttar Pradesh

Specialization

  • Bankruptcy and Debt
  • Criminal
  • Sex Crime
  • Consumer Protection
  • Contracts And Agreements
I am a criminal lawyer by profession based in Ghaziabad with appearance before all Courts and Tribunals in Delhi / NCR including Allahabad High Court and adjoining Districts of Western Uttar Pradesh like Meerut Moradabad Bulandshahr Muzzafarnagar Hapur Noida. View Full Profile
GIRRAJ  PRASAD

GIRRAJ PRASAD

Advocate
Exp
Jaipur , Rajasthan

Specialization

  • Bankruptcy and Debt
  • Criminal
  • Cheque Bounce
  • Divorce
  • Domestic Violence
I am practing advocate since 2013. I am dealing all types of cases such as civil, criminal, settlement, liasoning with authority etc. It is paid service platform where client has to bear nominal amount. So, you shall consider monetary value for service and be ready for payment in given account. View Full Profile
Abhinandan  Das

Abhinandan Das

ADVOCATE
Exp
Delhi , Delhi

Specialization

  • Bankruptcy and Debt
  • Cheque Bounce
  • Contracts and Agreements
  • Government Contracts
  • Civil
Practicing since 2013 in Matrimonial Related Matters, Property, Civil Suits, Contracts and Agreements, Legal Opinion, Cheque Bounce Cases, Criminal Law, Bails, Adoption and Custody of Child, Debt and Bankruptcy, Sexual Harrassment, consumer matter and minning matters. View Full Profile
Shweta  Patel

Shweta Patel

Advocate
Exp
New Delhi , Delhi

Specialization

  • Bankruptcy and Debt
  • Civil
  • Arbitration And Mediation
  • Cheque Bounce
  • Child Custody
We have lots of practice areas and wide range of legal services in Delhi. We are specialised in divorce, family property disputes, land disputes, property matter, civil, criminal, constitutional, commercial courts matter, trade mark arbitration, criminal advocate in Delhi. View Full Profile
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  • What are the laws on bankruptcy & debt in India?
  • What does it mean when a debtor is discharged?
  • Can a creditor collect on a discharged debt?
  • Can discharged debt be sold?
  • How long does a creditor have to collect a debt?

About bankruptcy & debt Laws


The primary law dealing with the subject of bankruptcy and debt laws is the Insolvency and Bankruptcy Code 2016.

The Insolvency and Bankruptcy Code, 2016 (IBC) is a substitution to separated legal framework and a split institutional set-up which was kept on passing on poor outcomes for a significant long time loan bosses and troubled business searching for an exit. This will profit everybody loan bosses, troubled business, economy and the estimation of the assets will be expanded. The manner by which the law is starting at now being realized seems to focus more on fast operationalisation. It has presented the time bound determination process which is the 180-day course of events talks profoundly about the point of the IBC – fast assurance of insolvency to help with the recuperation as to win in the economy where there is more capability about the recuperation system and expanding the estimation of assets of bothered business. Since the IBC accommodates a period bound system, it puts gigantic weight on the promoters as wells as the lenders to quick track a trade off recipe or risk the asset being liquidated.

Bankruptcy is a legal proceeding involving a person or business that is unable to repay outstanding debts. Some of the distinguishing elements of the code are-

  • Comprehensive law – this code is a comprehensive law which envisages and regulates the process of insolvency and bankruptcy of all persons including corporates, partnerships, LLP’s and individuals.
  • Withering away of Multiplicity of Laws – Code withered away multiple laws covering the recovery of debts and insolvency and liquidation process and presents singular platform for all the reliefs relating to recovery of debts and insolvency.
  • Clarity in Process- there is a clear and unambiguous process to be followed by all stakeholders. There is also shift of control from shareholders and promoters to creditors.
  • New Regulatory Authority- it provides for constitution of a new regulatory authority, ‘Insolvency and Bankruptcy Board of India’ to regulate professionals, agencies and information utilities engaged in resolution of insolvencies of companies, partnership firms and individuals.

The Code plots a bankruptcy assurance handle for individuals, associations and affiliation firms. As showed by the Section 6 of the code it is communicated that the method may be begun by either the corporate record holder or the financial lenders and operational advance managers. The most extraordinary time limit of 180 days and 90 days increase just if the Adjudicating Authority is persuaded for realization of the very system, has been set for corporates and individuals.

There are two types of tribunals. For Companies and Limited Liability Partnership Firms there is The National Company Law Tribunal (NCLT) and for people and associations there is the Debt Recovery Tribunal (DRT).

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