EVENTS IN THE RECENT PAST
Events in the Recent Past The position of home /flat buyers have been debated in the recent past at different forums including in some decisions of Adjudicating Authority under Insolvency and Bankruptcy Law, however there is no clarity so far and the worried home buyers are knocking doors here and there including Supreme Court of India in the cases of Jaypee Infra and Amrapali Group of Companies. The Regulator i.e. IBBI also created a third category of creditors and introduced a new Form ‘F’, which was perceived as if this new form is prescribed for home / flat buyers without any such indication by IBBI ……
Government had formed a committee led by Sunil Mehta comprising of chairman of three large banks to come out with a quick solution. The committee took less than a month’s time to come out with the scheme named “SASHAKT”. The committee had submitted its recommendations suggesting a five-pronged approach to pull the abysmal banking sector out of mounting non-performing assets. The purpose is to retain asset value of the stressed company.
The stressed companies have been divided into three categories, smaller assets having exposure of upto 50 crores, mid sized assets having exposure of 50 to 500 crores and large assets….