A “project wise” resolution may soon be a reality for real estate insolvencies. The National Company Law Tribunals will have the discretion to admit insolvency against the project in default, rather than the corporate entity as a whole, according to the latest proposals by the Ministry of Corporate Affairs.
A “project wise” resolution may soon be a reality for real estate insolvencies. The National Company Law Tribunals will have the discretion to admit insolvency against the project in default, rather than the corporate entity as a whole, according to the latest proposals by the Ministry of Corporate Affairs.
The real estate project would be viewed as separate from the larger entity for the limited purpose of resolution, the proposal…
Read the full article at: https://www.bqprime.com/law-and-policy/governments-latest-attempt-to-revive-insolvency-law-is-it-any-good