Rescued cos 2.5 times those liquidated in real estate sector: IBBI chief

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Rescued cos 2.5 times those liquidated in real estate sector: IBBI chief - Business Standard

Quick Summary:

Maruti Suzuki receives Rs 3.“The lack of specialised knowledge among insolvency professionals and the need for greater protection of homebuyer interests continue to complicate matters.

IBC experts feel that despite the positive trend of more resolutions than liquidations in real estate insolvencies under the IBC, several challenges persist.

These include giving homebuyers the status of financial creditors, keeping units already in possession out of the liquidation process, allowing project-wise insolvency resolution, and allowing homebuyers to be resolution applicants.