The Insolvency Code amendment empowers land authorities to join creditor meetings, potentially accelerating bankruptcy resolution for distressed projects.

Valor Estates has emerged as the frontrunner in Lavasa Corporation's acquisition with a ₹946 crore bid, while legal disputes threaten to delay India's first planned hill city's resolution process.

"Mumbai-based Yogayatan Group emerges as top bidder for debt-ridden Lavasa Corporation with ₹795 crore offer, surpassing Welspun Group and Valor Estates in final bidding round."

The Insolvency and Bankruptcy Board of India (IBBI) suggests granting ownership to debt-free purchasers who already own their property during the insolvent real estate firm's bankruptcy settlement. However, the committee of creditors must approve this plan.

INR 171-Crore Resolution Plan by MK Rajagopalan Approved by lenders MK Rajagopalan, the promoter of Chennai-based MGM Healthcare, purchased Visakhapatnam's 300-bed SevenHills Hospital through the IBC.

The Mumbai NCLT invalidated Wadhwa Buildcon's promoter's resolution plan. The resolution professional (RP)'s suspicious conduct and the promoter's willful default status revealed the decision.