Resolution Professional's Failure To Individually Inform Homebuyers About Insolvency Proceedings Goes Against Principles Of IBC: NCLAT

The NCLAT has ruled that a "Resolution Professional's failure to individually inform homebuyers about insolvency proceedings goes against the basic principles of the IBC." The tribunal's decision clarifies a key procedural aspect of the IBC. The ruling reinforces the principle that a person cannot be denied a right that is for their benefit. The court's decision is a crucial reminder to all that they must be diligent in their dealings.