The 9th of August, 2017 came as a nightmare to innumerable homebuyers as the National Company Law Tribunal (‘NCLT’) admitted insolvency proceedings against one of India’s biggest real estate developers, Jaypee Infratech Ltd. on a petition filed by IDBI Bank. The NCLT is also expected to pass orders on petitions
filed by financial institutions against various other big real estate developers. The pendency of these proceedings have come to raise various question marks for innumerable homebuyers whose faith in the real estate market in fruitfully catering to their housing plans is now shaken.Read  More