Treating Homebuyers As Financial Creditors Not Arbitrary : SC Upholds 2018 IBC Amendment [Read Judgment]

Dismissing a bunch of petitions filed by nearly 200 realtors, the Supreme Court on Friday upheld the amendments made to the Insolvency and Bankruptcy Code in 2018 to treat homebuyers as financial creditors.In the judgment titled Pioneer Urban Land and Infrastructure Ltd and Anr vs Union of India, the bench of Justices R F Nariman, Sanjiv Khanna and Surya Kant held that the amendments do...