The Insolvency and Bankruptcy Board of India (IBBI) suggests granting ownership to debt-free purchasers who already own their property during the insolvent real estate firm's bankruptcy settlement. However, the committee of creditors must approve this plan.

INR 171-Crore Resolution Plan by MK Rajagopalan Approved by lenders MK Rajagopalan, the promoter of Chennai-based MGM Healthcare, purchased Visakhapatnam's 300-bed SevenHills Hospital through the IBC.

The Mumbai NCLT invalidated Wadhwa Buildcon's promoter's resolution plan. The resolution professional (RP)'s suspicious conduct and the promoter's willful default status revealed the decision.

As lenders grapple to recover their investments from the debt-stricken retailer, the focus has shifted to the potential recovery through the asset held by Bansi Mall Management Co Pvt Ltd (BMMCPL), a subsidiary under the umbrella of the Future Group.