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IBBI amends insolvency process rules to ease homebuyers’ woes, ET RealEstate

NEW DELHI: The Insolvency and Bankruptcy Board of India has amended rules to allow distressed homebuyers to take possession of their properties while the resolution process is ongoing. The amendments, notified on February 3, and effective immediately, aim to enhance efficiency in insolvency proceedings, particularly for real estate projects, by introducing measures such as appointing…

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NCLAT judicial member recuses from Riju Raveendran plea

The Supreme Court had on October 23 last year allowed an appeal filed by US-based financial creditor Glas Trust challenging the NCLAT decision to halt insolvency proceedings initiated against Think & Learn, the parent company of Byju’s. The judgment set aside the NCLAT order which accepted a settlement between Byju Raveendran and the BCCI, on whose plea…