IBBI - Discussion Paper on issues related to Real Estate
By Communication Committee - INSOL India Posted On : November 11, 2024
The Insolvency and Bankruptcy Board of India has recently sought comments from the stakeholders on improving the insolvency process in Real Estate Matters so as to enable it to align the laws with market realities and practices.
The suggestions have been sought on the following issues:
1. Proposed inclusion of land authorities in Committee of Creditors Meetings
2. Clarity on timing of cancelling land allotments in real estate insolvency cases
3. Empowering the CoC to facilitate participation of associations of allottees as Resolution Applicants
4. Proposal to disseminate CoC minutes of the meeting to all creditors in class of real estate projects
5. Streamlining Possession Handover in Real Estate Projects
View paper
For more details please visit https://ibbi.gov.in/uploads/public_comments/Discussion%20Paper-%20Real-Estate%202024.pdf