The Codification of Project-Wise Insolvency in the Real Estate Sector: A Paradigm Shift under the IBC

Introduction For a long time, the Indian real estate market has been tormented by unfinished housing projects, delays, and financial difficulties, which have left thousands of homebuyers frustrated. The Insolvency and Bankruptcy Code, 2016 (IBC) established a comprehensive and time-bound framework for resolving corporate insolvency while balancing stakeholder interests and optimizing asset value. However, its application to the real estate business has shown serious flaws, especially because...