Govt Contemplates Abandoning Special Insolvency Framework for Real Estate
Real Estate

Govt Contemplates Abandoning Special Insolvency Framework for Real Estate

In a potential restructuring of the regulatory framework, the Central Government is contemplating the abandonment of the specialised Insolvency and Bankruptcy Code (IBC) framework crafted for the real estate sector. This reconsideration reflects a possible overhaul in how the government approaches insolvency matters within the real estate industry.

The dedicated IBC framework for the real estate sector was formulated to address the unique challenges and complexities of insolvency cases in the realty domain. However, recent evaluations and feedback have prompted the government to reassess the effectiveness and feasibility of this specialised approach.

The proposed shift is part of a broader review aimed at enhancing the efficiency and adaptability of insolvency proceedings in the real estate sector. If implemented, the move could bring the real estate industry under the purview of the standard IBC framework, aligning it with other sectors and streamlining the insolvency resolution process.

This potential change underscores the government's commitment to refining regulatory mechanisms to better suit the evolving dynamics of the real estate sector. The decision, once finalised, will likely have implications for stakeholders involved in insolvency cases within the real estate industry.

In a potential restructuring of the regulatory framework, the Central Government is contemplating the abandonment of the specialised Insolvency and Bankruptcy Code (IBC) framework crafted for the real estate sector. This reconsideration reflects a possible overhaul in how the government approaches insolvency matters within the real estate industry. The dedicated IBC framework for the real estate sector was formulated to address the unique challenges and complexities of insolvency cases in the realty domain. However, recent evaluations and feedback have prompted the government to reassess the effectiveness and feasibility of this specialised approach. The proposed shift is part of a broader review aimed at enhancing the efficiency and adaptability of insolvency proceedings in the real estate sector. If implemented, the move could bring the real estate industry under the purview of the standard IBC framework, aligning it with other sectors and streamlining the insolvency resolution process. This potential change underscores the government's commitment to refining regulatory mechanisms to better suit the evolving dynamics of the real estate sector. The decision, once finalised, will likely have implications for stakeholders involved in insolvency cases within the real estate industry.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?