IBC: Supreme Court upholds amendment to the Code regarding status of homebuyers as Financial Creditors

Shruti Mahajan August 9 2019
sales tax

In a boost to the homebuyers, the Supreme Court today upheld the amendment made to the insolvency and bankruptcy code (IBC) with respect to the classification of homebuyers as Financial Creditors.

The Court said that the original provisions concerning Financial Creditors under the Code always subsumed homebuyers and that the amendment under challenge had only added an explanation to the Section making this inclusion further clear.

This content is restricted to subscribers