The finance ministry on Wednesday said that the committee of creditors will be allowed to invite land authorities to its meetings to provide inputs on regulatory and land-related matters under insolvency regulations, a move expected to help speed up bankruptcy resolution involving hundreds of real estate projects. Replying during a discussion on proposed insolvency law amendments in the upper house of Parliament, it was stated that the changes limit the scope of adjudication at the case admission stage and prescribe stricter timelines to accelerate resolution and maximize the value of stressed assets. The legislation has been approved by both houses of Parliament, paving the way for its adoption after presidential assent. It was also clarified that the proposed framework for handling cross-border insolvency cases will include adequate parliamentary oversight, while the mechanism for resolving insolvency within corporate groups will have sufficient safeguards to prevent misuse. Under the new provisions, land authorities will be able to participate in committee of creditors meetings and comment on the legitimacy of land and property involved in insolvency cases. Of the 565 real estate cases admitted under the insolvency framework, 111 cases involving 162,320 homebuyers have been resolved, while another 210 cases remain under resolution. However, it was noted that some companies may still face liquidation if no viable resolution is possible. To further expedite the process, the amendments propose that insolvency cases be admitted within 14 days and resolution plans approved within 30 days, with written reasons required in case of delays.