The Bombay High Court (HC) on January 15 ordered setting up of a three-member panel to evaluate and sells assets of the embattled Housing Development and Infrastructure (HDIL). The fund thus accumulated would be used to pay off the debt the builder owes crisis-hit PMC Bank.
Fight for RERA, a pressure group working to protect the interests of homebuyers, has requested the prime minister for an amendment to the Insolvency and Bankruptcy Code 2016, to safeguard interests of homebuyers. The group argues that companies should not be allowed to hide behind the code as homebuyers suffer.
The recent amendments to the Insolvency and Bankruptcy Code (IBC) are an earnest attempt to address a number of issues faced in the ongoing stressed assets cases and will help reduce timelines, enhance transparency and improve realisations from their resolution.
It’s a bold and gamechanging Budget; the government has focused on higher spending in rural economy, agriculture, housing and infrastructure, and yet maintained the best standards of fiscal prudence. The Finance Minister has kept in mind the need to continue with strong economic reforms, promote higher investments and accelerate growth, particularly is sectors such as railways, roadways, and solar energy. It is a very good budget, I would like rate to 8 out of 10.