Include land authorities in CoC for realty insolvency
Business Standard|November 08, 2024
The inclusion of land authorities such as Real Estate Regulatory Authority (RERA) in the committee of creditors (CoC) to get their inputs without granting them voting rights for real estate insolvency process is among the several suggestions proposed by the Insolvency and Bankruptcy Board of India (IBBI) on Thursday.
Ruchika Chitravanshi
Include land authorities in CoC for realty insolvency

The insolvency regulator, in a discussion paper on issues related to the real estate sector said, "From a stakeholder perspective, the presence of such competent authorities in CoC meetings can enhance transparency and build confidence among homebuyers and other stakeholders in the resolution process."

In order to allow associations of home allottees participate in the resolution process, IBBI has proposed to bring an explanation stating the powers of CoC to use its discretion and relax certain conditions for such associations.

هذه القصة مأخوذة من طبعة November 08, 2024 من Business Standard.

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هذه القصة مأخوذة من طبعة November 08, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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