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‘Cheated’ Home Buyers May Soon Get A Relief As Lok Sabha Passes Insolvency And Bankruptcy Code

In what could come as welcome relief to thousands of home buyers across the country, who have been cheated by real estate developers, the Lok Sabha has passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018.

The bill aims to replace an ordinance which was introduced in June for the same purpose.

BCCL

Interim Finance Minister, Piyush Goyal, said the aim of the bill was to ensure that all cases are led to resolution instead of liquidation. He added that the Insolvency Law Committee submitted its report on March 26 and every recommendation of the committee was accepted and brought into the amendment.Click Here: true religion jean short