86
Policy Update
INSOLVENCY BOARD AMENDS RULES, PROTECTs HOME BUYER
INTERESTS
The Insolvency & Bankruptcy Board of India has amended
rules to command that any resolution plan for a company
has to precisely state how it has dealt with the interest of
all stakeholders.
Protecting the interests of home buyers of real estate
players such as Jaypee Infratech and some of the entities
of Amrapali Group has been the main aim. The altered
rules were notified by the regulator for insolvency and
bankruptcy proceedings and will make sure that banks
and other creditors do not escape by protecting their own
interests at the expense of others who are impacted by the
action.
Banks are