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100 buyers required for fill a case against builders-IBC amendment
29-Dec-2023 (In Bankruptcy / Insolvency Law)
Saturday Govt passed amendment in IBC, in this amendment now 100 buyers required to file a case in NCLT against builders. What is the impact on ongoing cases where hearing has been stared (IRP not appointed yet).
In the ongoing cases, the litigant is given an option to amend his Application and fall under the purview of the amendment,i.e., either 100 homebuyers or 10% or the total strength. However, if the litigant is not able to arrange for the above, his Application is dismissed.
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Adv. Tejasv Anand
Delhi | 100+ Answers
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