Home / Companies / News / IBBI likely to bring out discussion paper on real estate insolvency

IBBI likely to bring out discussion paper on real estate insolvency

Increased involvement of the Real Estate Regulatory Authority, or RERA, could also be proposed in the upcoming discussion paper

Premium

2 min read Last Updated : Nov 06 2023 | 9:58 PM IST

Listen to This Article

The Insolvency and Bankruptcy Board of India (IBBI) is expected to bring out a comprehensive scheme of insolvency resolution in the real estate sector for public discussion soon, according to sources.

The proposed changes in consideration under the Insolvency and Bankruptcy Code (IBC) includes a carve out for houses, which have already been handed over to homeowners, to be kept outside the purview of the resolution process, another official source said.

This can be done through an existing provision in the law. Section 18 of the IBC, which deals with duties of the insolvency professional, gives powers to the government to exclude

Topics : IBC IBBI insolvent companies Real Estate

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in