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asset of bankrupt realty firm

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President Ram Nath Kovind has given his assent to the ordinance amending the Insolvency and Bankruptcy Code (IBC) to recognise home buyers’ status as financial creditors.(HT file photo)

President okays ordinance, home buyers now have share in auctioned assets of bankrupt realty firms

Hindustan Times, New Delhi | By P Suchetana Ray
UPDATED ON JUN 06, 2018 10:36 PM IST
Being treated as financial creditors brings home buyers at par with banks and other institutional creditors as they would now have a share in the proceeds earned by sale of assets of bankrupt real estate companies.
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