Mint Explainer: Will IBBI’s new rules speed up relief for stranded homebuyers?

What does the insolvency data on real estate companies show?

Replying to a debate on the Insolvency and Bankruptcy Code (IBC) Bill in the Rajya Sabha on 1 April, finance minister Nirmala Sitharaman presented data showing that 162,000 homebuyers have received relief through 111 resolved real estate insolvency cases so far, while about 90,000 are involved in 210 ongoing cases. Of these, 87 cases are awaiting approval of resolution plans before the NCLT and are expected to be cleared in the coming months, potentially benefiting about 50,000 homebuyers.