Shobhit Agarwal - The NBFC catastrophe in the second half of 2018 leading to a severe liquidity crisis for the developers added to their woes. The non-availability of the refinance window caused many under construction real estate projects to be stalled., , real estate, Insolvency and Bankruptcy Code
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Ground seems ready for new options to resolve stressed assets, says IBBI chief MS Sahoo Proceedings under the Insolvency and Bankruptcy Code have remained suspended since 25 March in the wake of the COVID-19 pandemic Representational image. Reuters.
New Delhi: The ground seems to be ready to experiment new options for resolution of stress and the market is anticipating a hybrid framework between a court-supervised insolvency framework and an out-of-court restructuring schemes, IBBI chairperson MS Sahoo has said.
In place for more than four years, the Insolvency and Bankruptcy Code (IBC) is helping in resolution of stressed assets in a market-linked and time-bound manner, and the proposal for pre-pack framework is also in the works.
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