Quick Summary
The Insolvency and Bankruptcy Board of India (IBBI) released a significant Discussion Paper on November 17, 2025, aimed at addressing practical gaps and strengthening the integrity of the Corporate Insolvency Resolution Process (CIRP). The proposals focus on increasing transparency, protecting real
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The main goal is to address practical gaps and strengthen the integrity of the Corporate Insolvency Resolution Process (CIRP) by increasing transparency, protecting real estate allottees, and ensuring accountability in decision-making.
The IBBI proposes to mandate the inclusion of allottees' details in the Information Memorandum and ensure Resolution Plans strictly provide for the treatment of non-filing allottees, aligning with equity for genuine homebuyers.
The IM will be required to include comprehensive details of receivables, full disclosure of Joint Development Agreements and similar rights, and specifics of assets under attachment by agencies.
If no financial institution is present and a single unregulated creditor holds over 66% voting share, the Resolution Professional must invite the five largest operational creditors to attend CoC meetings as observers.
CoCs will have to mandatorily record the reasons for recommending liquidation, especially if a viable plan offers higher value than liquidation, and submit these reasons to the Adjudicating Authority.
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