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ARTICLE · 08 NOVEMBER 2024

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The Real Estate Insolvency Paradox

Hammurabi & Solomon Partners
Hammurabi & Solomon Partners
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Hammurabi & Solomon Partners

Hammurabi & Solomon Partners

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The Corporate Insolvency Resolution Process (CIRP) for real estate companies is notably distinct from other sectors due to its unique challenges and complexities.

IndiaReal Estate and Construction
Jyoti K. Choudhury
Jyoti K. Choudhury
Yashodhara Burmon Roy
Yashodhara Burmon Roy
Shreya Mishra
Shreya Mishra

The Corporate Insolvency Resolution Process (CIRP) for real estate companies is notably distinct from other sectors due to its unique challenges and complexities. Real estate companies often have multiple projects at various stages of completion and in different geographical locations, necessitating a more adaptable and innovative approach for effective resolution. Recognising these differences, the judiciary has applied the Insolvency and Bankruptcy Code, 2016 (the Code) with flexibility and creativity, aiming to protect the interests of real estate project allottees while maintaining the integrity of the Code.

This article explores the origin and specifics of real estate insolvencies, focusing on the rights of allottees, judicial trends, and amendments to the Code and related regulations and further moves on to provide a way forward, keeping in view the:

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