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of <h1>New Rule: Separate Bank Accounts Required for Real Estate Projects in Insolvency Cases Under Regulation 4D, Effective 2024.</h1> Regulation 4D of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 mandates that if a corporate debtor is involved in any real estate project, the interim resolution professional or resolution professional must maintain a separate bank account for each project. This provision was introduced through a notification dated February 15, 2024.
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