The Insolvency and Bankruptcy Code (Code) is likely to undergo further changes for home buyers

The Ministry of Corporate Affairs (MCA) would soon move amendments to the code, specifically for protection for new home buyers and tighter norms for home buyers for taking the developers to the NCLT. MCA may set a threshold for homebuyers to start insolvency proceedings through the next amendment, in a bid to limit abuse of the Code.

Source: https://www.business-standard.com/article/economy-policy/govt-may-amend-ibc-go-for-buyer-protection-and-stricter-homebuyers-norms-119112501327_1.html