Due to the outbreak of Second wave of Coronavirus, Assocham has requested the finance ministry to re-impose a moratorium on bringing debt-ridden firms to NCLT under the Insolvency and Bankruptcy Code (IBC) until December 2021.

More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.