The insolvency and bankruptcy cases of real estate companies have witnessed steady progress in terms of resolutions despite several complexities involved including troubled homebuyers in large numbers.
The possibility of the government bringing in changes to the code to allow resolution depending on the nature of the projects instead of stipulating one rigid framework for the entire property sector is likely to push the performance further, experts said.
A total of 6,571 companies across sectors were brought into administration until March-end this year, showed the latest data from the Insolvency & Bankruptcy Board of India (IBBI).
Out of these cases, about 21% or 1,380 companies were from the real estate sector and of these 854 or near…
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