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ARTICLE · 09 FEBRUARY 2024

IBCs Efforts To Accommodate Real Estate Sector Challenges

Hammurabi & Solomon Partners
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The growth and progress of any nation are measured by its infrastructure development, which not only gives impetus to our economy but also gives us tangible and visible proof of the growth and progress of our nation.

IndiaReal Estate and Construction
Shweta Bharti
Shweta Bharti
Aeshwarya Sisodia
Aeshwarya Sisodia

The growth and progress of any nation are measured by its infrastructure development, which not only gives impetus to our economy but also gives us tangible and visible proof of the growth and progress of our nation. However, in the past years, real estate companies were infamous for their stalled projects, delivering incomplete projects, or for their delayed deliveries, which puts the homebuyers in dire straits, impacts the growth of the real estate sector in India, and also hinders the infrastructure development of the nation as a whole.

The year 2016 was a landmark year for the real estate sector in India with the introduction of the Real Estate (Regulation and Development) Act, 2016 ("RERA") and the Insolvency and Bankruptcy Code, 2016 ("IBC"). IBC has been hailed all over for its effective resolution of insolvency, protection of investors/creditors and has presented itself as a ray of hope in combating rising non-performing assets/debts. However, in the initial

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