Insolvency law may provide relief to Homebuyers: proposed amendment

 

Thanks for the ovewhelming support to the petition. 

Let us show our support to recent amendment being proposed to Resolution process. This will help thousands of homebuyers like us who are waiting for final approval by NCLT even after an year of CoC approval. 

"The new draft proposed by Govt and Insolvency Board(IBBI) , plan is to provide a firm legal backing,which will reduce the hardship for homebuyers, who are often caught in the legal battle. It has also been proposed that during the insolvency resolution process, the resolution professional, who is in charge of the exercise, can allow transfer and ownership of property after the decision of CoC, which includes banks, and homebuyers."

https://timesofindia.indiatimes.com/business/india-business/insolvency-law-may-provide-carveouts-for-homebuyers/articleshow/97109332.cms