Has bankruptcy law failed homebuyers?

Has bankruptcy law failed homebuyers?
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Last Updated: Jun 28, 2021, 09:31 AM IST
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Synopsis
Five years after the Insolvency & Bankruptcy Code (IBC) was notified, only eight resolution plans for real estate sector have been approved although some 205 cases had been admitted until March 2021, Insolvency & Bankruptcy Board of India data showed.
(This story originally appeared in
on Jun 28, 2021)NEW DELHI: Four years ago, Kanupriya was among the 20,000 homebuyers in
Jaypee Infratech’s project in Noida who was hoping that an early resolution will help her take possession of the apartment she had booked in 2012. She is still waiting as the resolution process – monitored directly by the Supreme Court – seems to have entered the final leg.

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