<h1>Housing Minister warns insolvency process often fails to revive stalled real estate projects and calls for systemic reforms</h1> Union Housing Minister criticised the National Company Law Tribunal's (NCLT) effectiveness in reviving stalled real estate projects, asserting that matters entering insolvency proceedings often become unrescuable and calling for systemic reforms in consultation with the Corporate Affairs Ministry and the Prime Minister. He urged builders to curb cash transactions and misleading advertising, align circle rates with market rates, and prevent diversion of funds from RERA-mandated escrow accounts. He asked industry bodies to push state governments for faster approvals and single-window clearances and promoted replication of state best practices to protect consumer and bank interests and improve project completion rates.