Insolvency and Bankruptcy Code
Get professional insolvency advisory to your debt recovery.
What is IBC?
This is an act of parliament brought to balance the interest of homebuyers. Under the code, the homebuyer is treated as financial creditors. Before the code, they were regarded as an ‘unsecured creditors’, bringing them unable of initiating insolvency proceedings against a defaulting builder. According to the code, the amount paid by the homebuyers to a builder will be believed as financial debt, and homebuyers will be considered as financial creditors. It helps the homebuyer to file a petition to start insolvency proceedings against a defaulting builder.
How we help?
We help homebuyers to resolve insolvency with builder, and protect the interest of creditors legally, under IBC act. Also we assist in filing complaints to start insolvency proceedings against a defaulting builder.