Proposed IBC reforms by IBBI aim to resolve delays, ensure fair claims, and enhance transparency, offering relief to homebuyers and strengthening the real estate resolution framework.

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.

MahaRERA has warned purchasers about 314 housing projects undergoing corporate bankruptcy resolution at the National Company Law Tribunal. A major 236 projects are in Mumbai, 52 in Pune, nine in Haveli, and five each in Ahmednagar and Solapur.

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 bankruptcy court allowed Macrotech Developers to buy V Hotels Ltd., which owns the Tulip Star Hotel, formerly the Centaur Hotel. The property in Mumbai's upmarket Juhu neighbourhood will be bought by Lodha Group business Macrotech Developers for Rs 890 crore.

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.