26/02/2019
Home Buyer is now a Financial Creditor under IBC. An advance paid to developers towards purchase of house/property is treated as Financial Debt. IBC provides legal protection in the event of insolvency of the developer/builder.
Home buyers can now file with NeSL on advances paid to a developer for under construction / new property, along with the required documents. NeSL is presently the only Information Utility set up under the Insolvency & Bankruptcy Code, 2016 (IBC) and is regulated by Insolvency and Bankruptcy Board of India (IBBI)
Login to www.nesl.co.in and register yourself using the link for Financial Creditors to submit information and stay protected.
Disclaimer:
NeSL is only the IU service provider and it is the only custodian of the financial information and it will not guarantee or will not own any liability or responsibility to any person/s for the recovery of the amount due to any creditor/s or information submitter.
