President approves ordinance to treat home buyers as creditors
New Delhi, June 6 : Giving significant relief to home buyers, President Ram Nath Kovind on Wednesday gave assent to the ordinance making amendments to the Insolvency and Bankruptcy Code (IBC), which will recognise their status as financial creditors.
Being treated as financial creditors would bring home buyers at par with banks and other institutional creditors as they would now have a share in the proceeds earned by sale of assets of bankrupt real estate companies.
"The President today (Wednesday) gave assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018," an official statement said.
The government said the ordinance would give home buyers due representation in the Committee of Creditors and make them an integral part of the decision making process.
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"Will expose BJP on Waqf issue," says Karntaka Deputy CM DK Shivakumar
Bengaluru, Nov 16: Karnataka Deputy Chief Minister D K Shivakumar on Saturday said his party would expose the BJP on the Waqf issue as changes in revenue records favouring the Waqf Board were effected only during the Saffron party's regime.
While the BJP is all set to mount pressure on the Congress government by holding a mega protest and a month long march on the Waqf issue, Shivakumar claimed that during its tenure, the BJP regime started changing the revenue records of rights, tenancy and crops in favour of the Waqf Board and many properties also were transferred in the name of that board.
The BJP's opposition on the matter was "foolishness" as the government had all the related documents to pin them down, the Deputy CM told reporters. “We will expose them," he asserted and added that they came to know such aspects only later. Also, the issue did not get into public domain as everyone was busy with the recent elections.
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From November 25 to December 25, the BJP will be on protest mode against 'Waqf notices' to farmers, individuals and institutions.
After the Waqf controversy started raging in the state, Chief Minister Siddaramaiah announced withdrawing all the notices served to farmers, individuals and institutions.
The two factions of the BJP, led by its state chief B Y Vijayendra and the other by Vijayapura MLA, Basanagouda Patil Yatnal have decided to take on the Congress government on the Waqf issue separately.
Vijayendra has planned a mega agitation at Belagavi during the winter session of the legislature and the Yatnal faction would take out a month long march from Bidar in north Karnataka to Chamarajanagar in the south.
