Cabinet nod for tabling bill recognising home buyers as financial creditors
Updated : July 19, 2018 08:48 PM IST
The bill seeks to replace the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, which was promulgated by President Ram Nath Kovind last month.
The bill aims to provide significant relief to home buyers by recognising their status as financial creditors.
This would give them due representation in the Committee of Creditors (CoC) and make them an integral part of the decision-making process.