The Insolvency and Bankruptcy Board of India (“IBBI”) has recently notified several key amendments[1] in the CIRP Regulations[2], which aim to further streamline CIRPs[3] with special focus on real estate (RE) projects. These amendments give a formal effect to the recommendations/ suggestions that were proposed in the IBBI’s discussion paper, dated November 7, 2024, with an aim to enhance transparency, efficiency, and inclusivity of homebuyers in light of the unique challenges that arise in the CIRP of a RE entity.
In this blog, we have examined the issues that led to these amendments and assessed their effectiveness in safeguarding the interests of homebuyers and strengthening their…
