Homebuyers to get backing of government

The ministry of corporate affairs (MCA) has said, “…considering the recommendation of Insolvency Law Committee (ILC) and larger public interest.. an outcome-based approach, which would facilitate resolution of Jaypee Infratech Limited (JIL) over liquidation, may be adopted.” It added that homebuyers should be treated as a sub-class within the ambit of the financial creditor.

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