Home buyers of Jaypee infratech are facing an unprecedented situation: it is the first housing company that has entered insolvency proceedings. But the case of real estate company which is in the middle of constructing homes becomes challenging, especially for buyers. The insolvency professional will try to revive the company so there is hope yet for the buyers. But in the present case, buyers who are actually creditors of the company, will not have the first right as secured creditors. Insolvency proceedings might render the cases which are already going on against Jaypee Infratech infructous.

Source: Economic Times August 12, 2017 11:03 UTC