New Delhi, March 1 -- In a recent judgement in the Supertech case, the Supreme Court held that the focus of insolvency resolution in real estate cases should be on home completion rather than liquidation. We had argued for such an approach in our article in Mint on 7 October (shorturl.at/mTftF). This judgement should fundamentally alter the real estate insolvency process and bring relief to thousands of tormented homebuyers.

Its philosophical underpinnings must now permeate the legislative and regulatory regime governing the sector. It should include preventive and curative measures to straighten out kinks realtors exploit for their misdeeds. We discuss some important changes required.

The Supreme Court, in the Mansi Brar case, has dire...