Among all the sectors, the real estate sector has the lowest percentage of resolution of insolvency cases, with paltry 4% of the real estate cases getting resolved. The complex nature of the real estate business, which involves developers, bankers and customers among others, make successful resolution of cases extremely difficult.
Needless to say, the process of insolvency of real estate projects needs to undergo a sea-change so as to provide much-needed relief to homebuyers. In this context, the government is currently considering a slew of changes in the Insolvency and Bankruptcy Code (IBC) for the sector.
In an exclusive interview with Sanjeev Sinha, Mr. Santosh Pandey, CEO, Sarthak Advocates & Solicitors, shares his perspective. Ex…
Read the full article at: https://www.financialexpress.com/money/insolvency-process-of-realty-projects-needs-to-undergo-a-sea-change-to-provide-relief-to-homebuyers-santosh-pandey/3101397/