Delayed real estate projects: IBBI’s amended rules to allow homebuyers to take possession during insolvency process

The Insolvency and Bankruptcy Board of India has recently amended the rules governing the corporate insolvency resolution process (CIRP), enabling distressed homebuyers to take possession of their properties while the resolution process is ongoing. The key objective of these amendments, which were notified earlier this month, is to prevent unnecessary and prolonged delays in handing…

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NCLAT Directs NCLT To Decide

The NCLT has now directed the BCCI to speak with Byju’s lenders in order to try to find a solution in light of the Supreme Court’s ruling. The  Chennai bench of the National Company Law Appellate Tribunal (NCLAT), have directed the National Company Law Tribunal (NCLT) to decide the application filed by Board of Control…