Mumbai Grahak Panchayat echoed similar views, saying it would have been better if the government empowered Rera itself since it is an exclusive law to deal with the real estate sector, and not to take the IBC route
MahaRera has questioned the rationale behind government's decision to treat homebuyers as financial creditors by empowering them to drag their builders to NCLTs, saying the move whittles down its powers.
Mumbai Grahak Panchayat echoed similar views, saying it would have been better if the government empowered Rera itself since it is an exclusive law to deal with the real estate sector, and not to take the IBC route.
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