Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 09 MAY 2022

No Action To Recover EMI For Stuck Realty Projects

S.S. Rana & Co.
S.S. Rana & Co.
Contributor
S.S. Rana & Co.

S.S. Rana & Co.

Established in 1989, S.S. Rana & Co. is a premier intellectual property and corporate law firm...

View firm profile
Explore more from S.S. Rana & Co.

The surge in realty projects assuring umpteen homebuyer of the dream of having their own homes have failed to become reality.

IndiaReal Estate and Construction
Nihit Nagpal
Nihit Nagpal
Anuj Jhawar
Anuj Jhawar
Author LinkedIn connections

The surge in realty projects assuring umpteen homebuyer of the dream of having their own homes have failed to become reality. The aftermath of Real Estate Developer's inability to deliver projects on time, have left many homebuyers with the additional burdens of paying EMI without having anything in hands.

The Delhi High Court recently in Ashish Tiwari v. Union Bank of India1 dated January 31, 2022, hearing a number of petitions under Articles 226 and 227 of the Constitution of India of Homebuyers against Banks/ Housing Finance Companies (HFC) disbursing the loan amount through subvention schemes to the developers without even examining the fact as to whether the developers are in a position to complete the construction gave interim relief directing that banks/HFC shall not take any coercive action against the homebuyers to recover EMIs for pending projects where the builders were supposed to pay the EMIs till possession.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Litigation Update | Supreme Court Upholds Occupants' Rights In Redevelopment Projects, Reinstates Mhada Orders For Permanent Alternate Accommodation

The Supreme Court of India has delivered a landmark ruling in a redevelopment dispute, firmly establishing that Permanent Alternate Accommodation Agreements executed under the Maharashtra Housing and Area Development Act are statutory instruments, not mere private contracts. This decision addresses critical questions about developer obligations, occupant rights, and regulatory authority when redevelopment projects fail to honor commitments made to original tenants.
IndiaReal Estate and Construction
Mansukhlal Hiralal & Company
Mansukhlal Hiralal & Company
Article

Use Of Artificial Intelligence (AI) In Courts

On June 3, 2026, the Supreme Court of India’s AI Committee released preliminary draft of the Regulations for Use of Artificial Intelligence (AI) in Courts, 2026 (“The Draft”). This marks a shift from scattered experiments with AI tools for translation, transcription, research and case management. With over 93,000 pending matters as of March 2026, the guidelines aim to ease processes for officials and citizens. AI could help reduce backlogs through automated cause-list preparation, transcription, research, and defect scrutiny, but its use also raises serious concerns.
IndiaTechnology
S.S. Rana & Co.
S.S. Rana & Co.
Article

Copy, Right? ANI Media Pvt. Ltd. v. Open AI OpCo LLC

When an artificial intelligence system is trained on copyrighted news content, and later answers a user’s question using what it learned, has the law been broken? On 24th July 2026, the Delhi High Court answered that question, at least for now. In ANI Media Pvt. Ltd. v. Open AI OpCo LLC, Justice Amit Bansal declined to grant an interim injunction against OpenAI, holding, on a prima facie, interim stage view, that the company’s use of ANI’s news content to train its large language models (“LLMs”) falls within the fair dealing exception under Section 52(1)(a) of the Copyright Act, 1957
IndiaIntellectual Property
S.S. Rana & Co.
S.S. Rana & Co.
Article

FSSAI Raises Turnover Limits For Food Business Registration And Licensing

The change is effected through two instruments: the Food Safety and Standards (Licensing and Registration of Food Businesses) Amendment Regulations, 2026, notified via gazette on 10th March, 2026[1] (the “Amendment Regulations”), and a subsequent implementation order dated 13th March, 2026[2] (the “Order”) issued by FSSAI directing all licensing authorities to apply the revised thresholds with effect from 1st April, 2026.
IndiaFood, Drugs, Healthcare, Life Sciences
S.S. Rana & Co.
S.S. Rana & Co.
Article

Understanding The 50% Wage Rule Under The Code On Wages, 2019: A Cap On Exclusions, Not A Ceiling On Wages

India’s new labour code framework, comprising four consolidated codes enacted between 2019 and 2020, represents the most comprehensive overhaul of employment laws since independence. Among these, the Code on Wages, 2019 (hereinafter referred to as the “Code”) amalgamates the Payment of Wages Act, 1936; the Minimum Wages Act, 1948; the Payment of Bonus Act, 1965; and the Equal Remuneration Act, 1976, into a single, unified enactment.
IndiaEmployment and HR
S.S. Rana & Co.
S.S. Rana & Co.
Article

CERT-In’s New AI-Vulnerability Guidelines: A Quick-Reference For OEMs, Tech Vendors And In-House Counsel

Cybersecurity regulation in India has, until now, largely spoken to the entity that suffers the breach. The 2022 CERT-In Directions issued under Section 70B of the Information Technology Act, 2000 fixed a six-hour reporting clock on the organisation that detects an incident. The new Guidelines flip the lens onto the entity upstream of that breach, the OEM or technology provider that built the product in the first place. For the first time, vendors supplying software, firmware, cloud platforms, or APIs into India carry direct, time-bound, and independently verifiable obligations of their own and not obligations that are merely passed through a customer contract, but obligations CERT-In itself may enforce.
IndiaTechnology
S.S. Rana & Co.
S.S. Rana & Co.