Resolution Professionals Must Transfer Real Estate Assets With 66% Committee Approval Under New IBBI Corporate Insolvency Rules

IBBI amended regulations for corporate insolvency resolution process introducing key changes effective February 2025. New provisions mandate resolution professionals to transfer possession of real estate assets with 66% committee approval. For creditor classes exceeding 1000, up to five facilitators can be appointed at 20% of authorized representative fees. Resolution professionals must submit reports on real estate project development rights within 60 days. Monitoring committees established to oversee resolution plan implementation must provide quarterly updates to adjudicating authority. Relaxations introduced for MSME registration disclosure and performance security requirements for real estate projects where 10% or 100 creditors request modifications. .....

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