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Relief for home buyers in financially stuck up Projects.
IBBI seeks measures to insolvency processes for real estate projects
IBBI proposes five major measures that could remove pain points in IBC processes, bring relief to home buyers
Bankruptcy controller IBBI proposes to roll out a slew of measures aimed at furnishing comfort to home buyers while speeding up the bankruptcy processes of real estate systems under the Insolvency and Bankruptcy Code( IBC).
It has, in a new discussion paper, come up with five new proffers including taking IRPs RPs to apply forproject-wise enrollment with RERA; enabling Committee of Creditors( CoCs) to examine and invite separate plans for each design and banning property in the possession of allottees from liquidation estate.
