Recognition of Home Buyers as Financial Creditors under IBC

Home buyers are vital stakeholders in building projects. Many home buyers book their property in advance which helps builders raise funds for construction and development of the project.

Supreme Court protect interests of Homebuyers in Jaiprakash Infratech Limited case

Home buyers who had invested in housing projects by JIL, were permitted by the Interim Resolution Professional (IRP) to submit their claims as ‘other creditors’, subordinate to financial and operational creditors of JIL.