In a significant ruling for the real estate sector, the Supreme Court of India has affirmed that allottees with buy-back agreements and assured high-return schemes are to be treated as “speculative investors” and not “financial creditors” eligible to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC).
Speculator Investor or Homebuyer? Supreme Court Defines the Difference Under IBC
