Winding up under Companies Act Will Not Bar RERA Proceedings - Rajasthan RERA
RERA prevails over Companies Act : Case Law Gaining not just strength but also confidence of buyers Rajasthan RERA passed an order that will become a cornerstone judgement in RERA Act. Rajasthan Real Estate Regulatory Authority has held that winding up order under Section 279 of the Companies Act 2013 will not bar proceedings under Real Estate (Regulation and Development) Act 2016. Builders have been trying to capitalise on all the loopholes in lawe but the Authority while dismissing an application filed by the builder seeking stay of proceedings on the ground that the Delhi High Court had appointed a provisional liquidator in respect of the builder-company, while the proceedings under RERA were pending. The order came against MVL Limited , which cited Section 279 of the Companies Act, which states that no suit or legal proceeding against the company can be commenced or continued against the company after the passing of the winding up order except with the permission o...