GK and monthly revision

IBBI seeks to streamline real estate insolvency regulations with focus on homebuyers

The Insolvency and Bankruptcy Board of India (IBBI) is proposing reforms to streamline real estate insolvency regulations, particularly to benefit homebuyers. The reforms aim to exclude completed or unaffected housing projects from insolvency proceedings with creditor approval and require project-wise cash flow management. This initiative is significant as it seeks to enhance transparency, ensure accountability, and prioritize project completion, thus safeguarding the interests of homebuyers. Stakeholders are invited to provide feedback by July 21.