| BASIS | RERA | CPA | IBC |
| WHO CAN FILE | A PURCHASER, HOME BUYER OR PROSPECTIVE PURCHASER/HOME BUYER OFFERED FLAT CAN FILE COMPLAINT IRRESPECTIVE OF THE FACT THAT SUCH PERSON IS CORPORATE ENTITY OR INDIVIDUAL. | CONSUMER SATISFYING THE REQUIREMENT AS PROVIDED UNDER SECTION 2(D) OF CPA, CAN FILE A CPA COMPLAINT. TYPICALLY, AN INDIVIDUAL WHO ENTERS INTO AGREEMENT FOR PURCHASE OF FLAT CAN FILE COMPLAINT WHEN HE PURCHASES THE SAME FOR HIS INDIVIDUAL USE AND RESIDENCE. | SINCE BY RECENT AMENDMENT IN AUGUST 2018, THE ALLOTTEE OF PROJECT IS CONSIDERED A FINANCIAL CREDITOR, ANY PERSON WHETHER AN INDIVIDUAL OR CORPORATE ENTITY CAN FILE AN INSOLVENCY APPLICATION UNDER SECTION 7 OF IBC. |
| CASE TIMELINE | RERA TAKES A FEW MONTHS TO YEARS FOR REDRESSAL OF GRIEVANCES DEPENDING ON THE STATE. | REDRESSAL OF GRIEVANCES OR ADJUDICATION OF A DISPUTE TAKES AN AVERAGE OF 5 TO 6 YEARS BY CONSUMER FORUMS. | IBC TAKES ABOUT 6 MONTHS TO A YEAR FOR ADJUDICATION OF INSOLVENCY APPLICATION BY ADJUDICATING AUTHORITY. |
| ACCESSIBILITY | THERE ARE 1 – 2 RERA OFFICES IN EACH STATE WHICH HAS CONSTITUTED THE AUTHORITY UNDER THE ACT. MAHARASHTRA HAS OFFICES IN MUMBAI, PUNE AND NAGPUR. | DISTRICT FORUMS ESTABLISHED IN EVERY DISTRICT OF THE STATE. STATE COMMISSION PRESIDES IN EACH OF THESE STATES, WHILE THE NATIONAL COMMISSION PRESIDES AT DELHI AND HAVING BENCHES IN VARIOUS PARTS OF THE COUNTRY AS WELL. | NCLT HAS 16 BENCHES ALL OVER INDIA. NCLT IS TYPICALLY CONSTITUTED FOR EACH STATE AND PRESIDES AT ONE PLACE IN THE STATE OR ONE NCLT IS COMMONLY EMPOWERED AND IS HAVING JURISDICTION OVER TWO STATES. |
| EXECUTION/ RELIEFS PROVIDED | RERA TYPICALLY EXERCISE ITS POWER BY WAY OF AN ORDER TO IMPOSE FINE, DEREGISTER THE PROJECT, INCLUDE THE PROMOTER IN LIST OF DEFAULTERS, DIRECT COMPLETION OF PROJECT IN MANNER PROVIDED IN CONSULTATION WITH STATE GOVERNMENT AND PASS APPROPRIATE ORDERS INCIDENTAL THERETO. | CONSUMER FORUM HAS THE POWER TO EXECUTE THE ORDERS. THIS MAKES EXECUTION OF ORDERS ALSO AN EXPEDITIOUS AFFAIR IN COMPARISON TO REGULAR SUITS OR EXECUTION OF ORDERS PASSED BY VARIOUS COURTS/QUASI-JUDICIAL FORUMS. SINCE THE SCOPE OF CONSUMER ACT IS LIMITED, THE RELIEF AND REMEDIES ARE COMPARATIVELY AN EXPEDITIOUS AFFAIR. | ONCE, NCLT ADMITS THE INSOLVENCY APPLICATION, IRP COMES INTO THE PICTURE TO MANAGE THE AFFAIRS OF THE COMPANY AND IN CASE OF FAILURE OF CORPORATE INSOLVENCY RESOLUTION PROCESS (“CIRP”), LIQUIDATION WOULD BE COMMENCED. NCLT MONITORS THE ENTIRE PROCESS AND TIME TO TIME, VARIOUS REPORTS ARE REQUIRED TO BE FILED WITH NCLT. |
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