The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Insolvency and Bankruptcy Code, has said owner of undelivered properties can become part of the committee of creditors and stake a claim equivalent to the amount they have paid to realtors. Their claims, according to the regulator, would be treated on a par with claims of other financial and operational creditors and would not be pushed to the bottom of the list.
Homebuyers can now file form F, introduced by the insolvency regulator, for claims. Such entities should submit proof of their claims to the interim resolution professional or resolution professional, a notification issued by the IBBI on Wednesday said. This section of…
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