아파트 구매자들 이제 건축업자가 파산해도 보호를 받아 FLAT BUYERS WILL NOW BE COVERED IN CASE BUILDER GOES 'BANKRUPT'
[REAL ESTATE NEWS] Good morning, everyone. I’m Youngjae Ko representative of Kamaindia Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as under mentioned.
FLAT BUYERS WILL NOW BE COVERED IN CASE BUILDER GOES 'BANKRUPT'
NEW DELHI: The Insolvency & Bankruptcy Board of India (IBBI) has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with interests of all stakeholders--a move aimed at protecting the interests of home buyers of real estate players such as Jaypee Infratech and some of the entities of Amrapali Group.
The revised rules were notified by the regulator for insolvency and bankruptcy proceedings last week and will ensure that banks and other creditors do not get away by protecting their interests at the expense of others who are impacted by the action. Banks are part of the creditors' committee, the key decision-making body after a company is admitted for bankruptcy .