645 Real Estate Firms Rescued Under Insolvency Process: IBBI Chief
Real Estate

645 Real Estate Firms Rescued Under Insolvency Process: IBBI Chief

A significant milestone has been achieved in India's real estate sector, with 645 real estate companies being rescued through the Insolvency and Bankruptcy Code (IBC) framework. This development underscores the effectiveness of the IBC in reviving distressed firms and safeguarding stakeholders' interests.

Key Highlights:

IBBI Chief?s Announcement: Ravi Mital, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), announced that 645 real estate companies have been successfully revived through the insolvency process. This achievement reflects the growing efficiency of the IBC framework in addressing financial distress in the real estate sector.

Sectoral Impact: The real estate sector, which has faced significant financial challenges in recent years, has seen substantial relief through the IBC's intervention. This rescue has helped in protecting the interests of homebuyers, creditors, and other stakeholders involved in these firms.

Resolution Mechanism: The IBC has provided a structured resolution mechanism, allowing distressed real estate firms to undergo a turnaround or liquidation, depending on the viability of the businesses. This process has also facilitated the resolution of large-scale projects that were previously stalled.

Homebuyer Protection: One of the critical aspects of these resolutions is the protection of homebuyers, who often face the brunt of delays and financial troubles in real estate projects. The IBC has ensured that their interests are prioritized during the resolution process.

Ongoing Reforms: The success of these resolutions highlights the need for continuous reforms in the insolvency framework to further streamline processes and address sector-specific challenges, ensuring quicker resolutions and better outcomes.

Overall, the rescue of 645 real estate firms through the IBC reflects the framework's effectiveness in reviving distressed businesses and protecting stakeholders' interests, particularly in a sector as vital as real estate.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

A significant milestone has been achieved in India's real estate sector, with 645 real estate companies being rescued through the Insolvency and Bankruptcy Code (IBC) framework. This development underscores the effectiveness of the IBC in reviving distressed firms and safeguarding stakeholders' interests. Key Highlights: IBBI Chief?s Announcement: Ravi Mital, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), announced that 645 real estate companies have been successfully revived through the insolvency process. This achievement reflects the growing efficiency of the IBC framework in addressing financial distress in the real estate sector. Sectoral Impact: The real estate sector, which has faced significant financial challenges in recent years, has seen substantial relief through the IBC's intervention. This rescue has helped in protecting the interests of homebuyers, creditors, and other stakeholders involved in these firms. Resolution Mechanism: The IBC has provided a structured resolution mechanism, allowing distressed real estate firms to undergo a turnaround or liquidation, depending on the viability of the businesses. This process has also facilitated the resolution of large-scale projects that were previously stalled. Homebuyer Protection: One of the critical aspects of these resolutions is the protection of homebuyers, who often face the brunt of delays and financial troubles in real estate projects. The IBC has ensured that their interests are prioritized during the resolution process. Ongoing Reforms: The success of these resolutions highlights the need for continuous reforms in the insolvency framework to further streamline processes and address sector-specific challenges, ensuring quicker resolutions and better outcomes. Overall, the rescue of 645 real estate firms through the IBC reflects the framework's effectiveness in reviving distressed businesses and protecting stakeholders' interests, particularly in a sector as vital as real estate.

Next Story
Infrastructure Transport

Anji Khad Bridge, India's First Cable-Stayed Rail Bridge Ready in J&K

Indian Railways has completed the Anji Khad Bridge, India’s first cable-stayed rail bridge, located in the Reasi district of Jammu and Kashmir. A critical component of the ambitious Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project, this engineering marvel connects Katra and Reasi, promising enhanced regional connectivity and economic growth.Spanning 725.5 metres, the bridge features a 193-metre-tall main pylon, soaring 331 metres above the riverbed. Its design allows it to withstand wind speeds of up to 213 km/h and safely support train operations at speeds of 100 km/h.Constructed in th..

Next Story
Infrastructure Urban

Exporters Raise Logistics Costs Concerns with Piyush Goyal

Exporters and freight agencies have voiced concerns over high terminal handling charges at ports and the underutilisation of dry ports, adding to India’s overall logistics costs. During a meeting with Commerce and Industry Minister Piyush Goyal, they highlighted that the fees charged by shipping terminals for container storage and positioning before loading exceed port charges by Rs 10,000-15,000 per consignment. The discussion focused on logistics and shipping challenges, with the government actively working to reduce costs across the supply chain, according to an official. India is targe..

Next Story
Infrastructure Transport

Government to Revamp UDAN Scheme with Focus on Airport Readiness

The Indian government is set to revamp its regional air connectivity scheme, UDAN (Ude Desh ka Aam Nagrik), by prioritising airport readiness before inviting airlines to bid for operating routes. Financial support for the development of unserved airports and airstrips across the country is expected to be a key focus in the upcoming budget, along with stricter assessments of route feasibility, according to sources. Launched in 2017 to boost air travel in the world’s fastest-growing aviation market, the UDAN scheme caps airfares and provides subsidies to airlines for operating on less frequen..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000