As many as 13 banks and over 23,000 homebuyers have voting rights in the CoC.
Homebuyers can approach banks for loan revival, advised the Governmant.
Homebuyers are advised to reach out to their respective lending institutions to seek necessary guidance.
Industry finds that the stress fund allocated to the housing sector with several riders will not increase demand among homebuyers.
This window will help in completion of affordable and middle income housing projects.
In both cases, homebuyers relied on the amended Insolvency and Bankruptcy Code (IBC), which gives them a new status as financial creditors.
The court described remedies under the Consumer Protection Act, 1986, and RERA as “concurrent remedies”.
Even a slight difference in their interest rates can lead to a significant difference in the overall interest cost of the loan.
Last week, lenders filed a petition before the NCLAT to allow them to vote against NBCC's bid in ongoing insolvency process.
As many as 13 banks and 23,000 homebuyers have voting rights in the committee.