<h1>IBC Amendment 2018: Homebuyers Gain Financial Creditor Status, Can Initiate Insolvency Against Developers, Join Creditor Committees.</h1> The IBC (Amendment) Ordinance, 2018 addresses issues faced by homebuyers in real estate projects, equating them to financial creditors. This change allows homebuyers to initiate corporate insolvency proceedings against defaulting developers, participate in creditor committees, and influence resolution processes. In liquidation scenarios, they are treated on par with other financial creditors. The ordinance aims to protect homebuyers and promote formalization in the real estate sector, eliminating unreliable developers and ensuring timely project completion. The ordinance, alongside RERA, is expected to boost construction growth and enhance investor confidence in the real estate market.