Real estate resolution plans must address project-wise unit status, allottee claims, completion timelines, and periodic monitoring reports. Regulation 38A requires every resolution plan for a corporate debtor with a real estate project to contain project-wise disclosures and allottee treatment ... Summary
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Real estate resolution plans must address project-wise unit status, allottee claims, completion timelines, and periodic monitoring reports.
Regulation 38A requires every resolution plan for a corporate debtor with a real estate project to contain project-wise disclosures and allottee treatment measures. The plan must identify sanctioned, constructed and under-construction units, distinguishing sold from unsold units, and specify treatment of allottee claims through possession, conveyance, title transfer, refunds, or another stated mechanism. It must also provide for identified allottees who have not filed claims, completion and possession timelines, and periodic progress reporting to the Monitoring Committee.
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