Empowering Homebuyers: Judicial Evolution in Insolvency & Bankruptcy Law

  • Asrov Rabidebpradhan Aryavans
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  • Asrov Rabidebpradhan Aryavans

    LL.M. student at India International University of Legal Education and Research, Goa, India

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This research paper delves into the intricate landscape of the Insolvency and Bankruptcy Code, 2016 (IBC) in India, with a specific focus on the status of homebuyers within this framework. This paper navigates through the categorization of creditors into Financial Creditors (FC), Operational Creditors (OC), and others, elucidating the amendments that redefine funds from homebuyers as a commercial form of borrowing. Pre-amendment challenges and conflicting National Company Law Tribunal (NCLT) rulings are scrutinized, emphasizing judicial interventions that empower homebuyers. In landmark cases of Supreme Court decision has thoroughly analysed, establishing that homebuyers seeking remedies under real estate regulations maintain their status as financial creditors under the IBC. The article concludes by highlighting the transformative impact of IBC amendments, ensuring legal clarity and safeguarding the varied interests of stakeholders in the realm of insolvency resolution.


Research Paper


International Journal of Law Management and Humanities, Volume 7, Issue 2, Page 1412 - 1426

DOI: https://doij.org/10.10000/IJLMH.117204

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This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.


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