Include land authority in CoC for real estate insolvency cases: IBBI

Q: How long will it take to read this news story?

The story "Include land authority in CoC for real estate insolvency cases: IBBI" has 568 words across 18 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Include land authority in CoC for real estate insolvency cases: IBBI" was covered 2 weeks ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 346 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23460984</li><li>URL: https://beamstart.com/news/include-land-authority-in-coc-17309838128425</li></ul>

Business Standard Logo Business Standard 2w ago

Include land authority in CoC for real estate insolvency cases: IBBI - Business Standard

Quick Summary:

The inclusion of land authorities as non-voting members of COC will provide more confidence and they can act as facilitators for the final resolution," said Jyoti Prakash Gadia, Managing Director at Resurgent India.

The Economic Survey 2023-24 noted that the IBC has been the most favoured among the three available remedies for the real estate sector, besides the Consumer Protection Act 2019 and Real Estate Regulation and Development Act 2016.

According to IBBI large size real estate cases such as Jaypee Infratech, Kohinoor CTNL Infrastructure Company, SARE Gurugram have yielded recovery of more than 60 per cent of the admitted claims.