The Insolvency and Bankruptcy Code (IBC) has seen successful resolution in 46 per cent of the cases admitted in the real estate sector as of June 2024, the latest data by the Insolvency and Bankruptcy Board of India (IBBI) showed. Of 1,400 admitted insolvency cases for real estate and construction companies, 645 have so far been rescued, while 261 ended up in liquidation.
“The rescued companies are around 2.5 times those liquidated… By providing a structured framework for insolvency resolution, empowering homebuyers, and ensuring a time-bound process, IBC has instilled a sense of hope and confidence among stakeholders,” said Ravi Mittal, chairperson, IBBI, in the…
