Moneycontrol News
An all-India homebuyers group, in a letter to the Prime Minister Narendra Modi, has sought an amendment to the Insolvency & Bankruptcy Code 2016 to ensure that homebuyers’ interests are protected during insolvency proceedings, and has also brought to his notice that Real Estate (Regulation and Development) Act 2016 (RERA) has not offered much relief to buyers as its provisions have been diluted by most states.
It has, therefore, recommended that the real estate regulator should have the powers to attach all the assets of the promoters both personal and other companies to fund the completion of unfinished projects.
This appeal follows the uncertainty faced by almost 40,000 homebuyers over their investmen…
Read the full article at: http://www.moneycontrol.com/news/business/real-estate/jaypee-infra-insolvency-can-homebuyers-get-relief-under-rera-2382435.html
