News & Media 20th Jan 2023

MC Explains: Will tweaks in insolvency law help homebuyers?

Authors

Shailesh Poria Partner | Mumbai

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moneycontrol.com’s article ‘MC Explains: Will tweaks in insolvency law help homebuyers?’ sheds light on the proposed changes in the Insolvency and Bankruptcy Code by the Government which aim to reduce the woes of homebuyers caught in long-drawn-out legal battles with real estate developers. The amendments are intended to ensure expeditious resolution of stalled projects and provide legislative backing to the concept of ‘reverse corporate insolvency resolution process’ and ‘project-wise CIRP’.

Against this backdrop, Shailesh Poria, Partner, Economic Laws Practice (ELP) talks about how the proposed amendment seeks to balance the interests of banks and buyers.

The article can be read here: Click Here