Recent changes to CIRP Regulations streamline the process by allowing the handover of the unit’s possession to homebuyers while the resolution process is still ongoing.
The Insolvency and Bankruptcy Board of India has brought in certain amendments to streamline and optimise the insolvency resolution process.
The Tamil Nadu Apartment Ownership Act, 2022, seeks to address the issues not comprehensively touched upon or dealt with by the 1994 Act.
Though IBBI’s paper addresses the issues faced in the insolvency processes of real estate projects, the draft regulations need fine-tuning.
