Two laws, one project
While the CIRP runs, registrations, reporting and allottee rights under RERA still matter, and the two regimes do not always point the same way.
RERA–IBC Desk for Insolvency Professionals
Specialist RERA advisory and compliance support for Insolvency Professionals handling real estate companies under the IBC — anywhere in India.
The Challenge
Real Estate Insolvency Means Two Regimes at Once
The Code governs the process, but RERA continues to shape what happens to the project and its allottees.
Compliance cannot pause
Lapsed registrations, missed quarterly updates and unanswered notices can quickly erode project value when nobody is tracking them.
Allottees are the largest creditor class
Their agreements, payments and claims need careful verification before they reach the Information Memorandum.
Plans must work on the ground
A resolution plan succeeds only when the project can be registered, funded, completed and handed over under RERA.
Services
Our Services for Insolvency Professionals
Practical support across the life of a real estate CIRP — from admission to handover.
Lapsed Registration Revival & Extension
Assisting Insolvency Professionals in taking over, renewing or extending lapsed RERA registrations of distressed real estate companies, so the project stays legally marketable and its asset value is protected during the CIRP.
- Project-wise RERA health check at the start of the CIRP
- Renewal and extension applications
- Coordination with the RERA authority
Quarterly Compliance Audit During CIRP
Making sure that mandatory quarterly updates, financial disclosures and progress reports continue to reach the RERA authority during insolvency, so regulatory default notices do not pile up.
- Compliance calendar and tracker for every project
- Preparation and filing of periodic updates
- Replies to authority notices
Escrow Account Reconciliation & Fund-Flow Tracing
Forensic review of the dedicated project escrow accounts that RERA requires, to verify fund diversions, transfers to parent or group entities and utilisation ratios.
- Account-wise reconciliation of the 70% project account
- Tracing of related-party and group transfers
- Utilisation compared with construction progress
Escrow Mechanisms for Partial Construction Resumption
Setting up and managing compliant escrow mechanisms so that construction can resume in part, under the guidance of the IRP/RP and the Committee of Creditors, in coordination with monitoring committees.
- Design of a compliant fund-flow structure
- Coordination with monitoring committees
- Periodic reporting to the IP and CoC
Allottee Claims & Agreement Audit
Reconciling builder-buyer agreements against actual monies received and units booked, including unregistered allottees, to establish an accurate liability map for the Information Memorandum.
- Agreement-wise and receipt-wise verification
- Cancelled, transferred and unregistered units
- Interest working and claim support for the IP
Land Title, Approvals & Statutory Due Diligence
Reviewing land titles, development agreements, joint venture terms and municipal or development authority approvals of the corporate debtor's projects, so prospective resolution applicants receive clean, reliable data.
- Title and chain-of-title review
- Development and JV agreement review
- Approvals and statutory clearances status
Moratorium & Litigation Support
Assisting IPs in defending claims, filing appeals or seeking clarifications before the RERA authority, the RERA Appellate Tribunal and the NCLT/NCLAT on real estate-specific matters, with clear briefing notes for counsel.
- Strategy on pending RERA complaints and recoveries
- Appeals and clarification applications
- Briefing notes and documentation for counsel
RERA-Compliant Resolution Plan Structuring
Advising IPs and prospective resolution applicants on plans that work on the ground: project handover, title conveyance to allottees, statutory dues settlement and the approvals a revived project needs under the applicable state RERA.
- Possession versus refund treatment of allottees
- Change-of-promoter and registration approvals
- Completion and occupancy certificate roadmap
Liquidation & Project Handover Support
Guiding the IP when a real estate project moves towards liquidation, completion by a new party or handover, with attention to unsold inventory and the rights of allottees.
- Unsold inventory and residual unit position
- Allottee rights and conveyance planning
- Completion and handover alternatives
Second Opinions, SOPs & Training
Quick second opinions on RERA questions that arise during a CIRP, along with checklists, SOPs and short training sessions for IP teams handling real estate cases.
- Second opinions on specific RERA issues
- Checklists and working SOPs
- Team workshops and briefings
CA Mayank Tayal & Co. provides advisory, compliance and analytical support. Statutory decisions and duties under the Code remain solely with the Insolvency Professional and the Committee of Creditors.
How We Work
A Simple, Dependable Way of Working
- 01
Share the Brief
Tell us about the corporate debtor, its projects and the current stage of the CIRP.
- 02
Scope the Work
We confirm what is needed, the timelines and the deliverables in writing.
- 03
Deliver & Report
Work is completed with clear, well-documented reports your team can rely on.
- 04
Support to Closure
Continued assistance through plan approval, handover or liquidation.
Why Work With Us
A RERA Specialist Who Understands the Code
CA + IP perspective
We understand the Code, the Committee of Creditors and an IP's duties first-hand.
RERA is our single focus
RERA is the core of our practice, not a side service.
Project-wise discipline
Every project is tracked separately, with its own status, risks and action list.
Confidential and independent
Strict confidentiality, with every statutory decision remaining with the IP.
FAQs
Questions Insolvency Professionals Ask
Yes. The project's registration, periodic reporting and obligations towards allottees remain important during the process, and a lapse can reduce the value of the project. We help the IP track and manage these requirements.
Yes. The desk supports Insolvency Professionals on real estate insolvencies across India. Because every state RERA has its own procedures, we check the state-specific requirements for each matter.
Support ranges from a one-time review or second opinion to continuing assistance across the CIRP, covering compliance, reconciliations, diligence, resolution plan inputs and litigation support.
Yes. Every matter is handled with strict confidentiality. The Insolvency Professional retains all statutory decisions and duties; we provide advisory and analytical support.
Call or WhatsApp us, or send an enquiry. We will understand the brief and confirm the scope of work in writing before we begin.
Handling a real estate CIRP?
Speak to the RERA–IBC Desk — practical, confidential support for Insolvency Professionals.