After holding homebuyers as financial creditors as per the Insolvency and Bankruptcy Code (IBC), in January 2021, the Supreme Court ruled that homebuyers, with a decree obtained from the real estate regulatory authority (RERA), cannot be treated differently from other allottees and financial creditors.
After holding homebuyers as financial creditors as per the Insolvency and Bankruptcy Code (IBC), in January 2021, the Supreme Court ruled that homebuyers, with a decree obtained from the real estate regulatory authority (RERA), cannot be treated differently from other allottees and financial creditors.
The Supreme Court has held that homebuyers cannot be treated differently from other "financial creditors" under the Insolvency and Bankruptcy Code (IBC) 2016 just because they have secured orders from.