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ARTICLE · 09 MARCH 2023

Resolution Process For Real Estate Companies Under IBC: A Comprehensive Guide

King, Stubb & Kasiva
King, Stubb & Kasiva
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King, Stubb & Kasiva

King, Stubb & Kasiva

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One of the most sought-after sectors for investment by investors in India is real estate.

IndiaReal Estate and Construction
King Stubb & Kasiva
King Stubb & Kasiva
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INTRODUCTION

One of the most sought-after sectors for investment by investors in India is real estate. However, in recent decades, it has been observed that the real estate sector has witnessed huge stagnation due to delays in property possession to the homebuyers and decreasing confidence of the buyers in housing investments.

In view of the above phenomena, Real Estate IBC resolution process in India involves CIRP or Corporate Insolvency Resolution Process for real estate developers in India which was introduced by the Insolvency and Bankruptcy Code, 2016 that governs the insolvency resolution of companies, partnership firms and individuals. According to this, a Real Estate insolvency resolution under IBC of a company would be subject to the process of CIRP in case it is unable to pay off its debts and pay off its creditors. The process of CIRP in reference to a real estate company revolves primarily around appointment of an interim resolution professional also

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