The constitution of COC for one project instead of all is against the regular practice of CIRP. In the past two years, the NCLAT has passed similar orders in various cases and called them Reverse CIRP.
Tag: Reverse CIRP under IBC
REVERSE INSOLVENCY – GOOD FOR ALL (HOMEBUYERS & BUILDER)
Reverse Insolvency Under IBC laws, seems best solution for struck real estate projects and Reverse Insolvency concept is kind good for both homebuyer and builder
Reverse CIRP under IBC- A boon or Curse for the Homebuyers?
Earlier the allottees had an option of claiming refund of the entire amount. But under the reverse CIRP, the allottees will not be able to claim the refund.
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