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Customised insolvency & bankruptcy code resolutions for real estate on the cards

Dated on: Friday 9th June 2023

According to sources familiar with the matter, the government is expected to modify the insolvency law in order to facilitate tailored solutions for insolvent residential real estate projects. The aim is to ensure the prompt provision of flats to homebuyers in distressed housing projects. The proposed amendments to the Insolvency and Bankruptcy Code (IBC) would enable project-specific resolutions, rather than imposing a rigid framework applicable to the entire real estate sector.

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