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On August 21, 2023, a committee constituted by the Ministry of Housing and Urban Affairs published its report ("Committee Report") to examine stalled real estate projects and recommended ways to complete them1.
It is globally accepted that inter se priority of the secured creditors should be respected as part of the liquidation waterfall. However, the Indian story has unfolded with multiple twists and turns with an unclear path ahead. This article traces this history as well as the way forward.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.