SC: Speculative Realty Investors Jeopardize Genuine Buyers
NEW DELHI: The Supreme Court has emphasized the misuse of insolvency proceedings in the real estate sector, driven by speculative investors who negatively impact genuine homebuyers. The court described these investors as a “slow poison” to the residential real estate industry, motivated more by profit than by acquiring property. A bench comprising Justices JB Pardiwala and R Mahadevan expressed concern that “trigger-happy” investors often seek quick exits from projects, undermining the interests of legitimate purchasers. It stated that such entities should not exploit the Insolvency and Bankruptcy Code (IBC) or enable dishonest developers to take advantage of existing loopholes. The…