India, Oct. 2 -- The Insolvency and Bankruptcy Code, 2016 (IBC) has met with success since its introduction, steadily reshaping India's insolvency landscape. By June 2025, about 8,492 cases had entered the Corporate Insolvency Resolution Process (CIRP), 77.56 per cent of which have concluded, with 44.31 per cent ending in resolution, settlement, or withdrawal, rather than liquidation. This means that companies and creditors are increasingly finding ways to preserve value, reflecting growing maturity in the system.

However, the IBC faces equally demonstrated lacunae which need redress. The latter include the needs of the homebuyers when a developer (as a group or a project-specific Special Purpose Vehicle) enters insolvency.

Limits of IB...