Now home buyers to be treated as financial creditors: Government
In a huge relief for home buyers, the Central government on Friday said they would now be treated as financial creditors and would have a share in the proceeds earned by sale of assets of bankrupt real estate companies
Earlier, the Insolvency Law Committee (ILC) set up by the Corporate Affairs Ministry had suggested that home buyers be treated as financial creditors to enable them to participate equitably in an insolvency resolution process. Image source: Reuters