As of December 2024, insolvencies in the real estate sector
accounted for approximately 22% of admitted cases under the
Insolvency and Bankruptcy Code, 2016
("IBC"), making it second only to the
manufacturing sector that accounted for 37% of admitted
cases.1 The high volume of insolvencies in the real
estate sector, the imperative to protect homebuyer interests and
specific challenges faced by this sector have resulted in several
amendments focused specifically on the insolvency process for real
estate projects. Recently, the Insolvency and Bankruptcy Board of
India ("IBBI") notified the Insolvency
and Bankruptcy Board of India (Insolvency Resolution Process for
Corporate Persons) (Amendment) Regulations, 2025
("2025 Amendments") amending certain
provisions of the Insolvency and Bankruptcy Board of India
(Insolvency Resolution Process for Corporate Persons) Regulations,
2016 ("CIRP Regulations"), which once
again have a special focus on the corporate insolvency
