Key changes include: 

1. Handing Over Possession of Real Estate Units: If approved by at least 66% of creditors, the resolution professional (RP) must hand over possession of plots, apartments, or buildings to allottees who have fulfilled their obligations. 

2. Appointment of Facilitators (For Large Creditor Groups): If creditors in a class exceed 1,000, a facilitator can be appointed to improve communication. A sub-class (minimum 100 creditors) must propose the facilitator. Maximum 5 facilitators can be appointed.  

• Facilitator’s fee = 20% of the Authorized Representative’s fee (part of CIRP costs). 

3. Facilitator’s Responsibilities: Assist creditors in communication with their authorized representative. Attend CoC (Committee of Creditors) meetings as observers. Provide information to creditors and clarify insolvency processes. 

4. Involvement of Real Estate Authorities: CoC can invite the competent authority under RERA, 2016 to attend meetings and provide inputs. 

5. Status Report on Real Estate Projects: The RP must prepare a report detailing the development rights and permissions required for real estate projects. Must be submitted to CoC for comments and Adjudicating Authority within 60 days of insolvency commencement. 

6. Fee for Facilitators: Facilitators’ fees added to the list of CIRP costs. 

7. Disclosure of MSME Status: Corporate debtor’s MSME registration details must be disclosed. 

8. Relaxation for Real Estate Projects: CoC may relax eligibility criteria for EoI (Expression of Interest) and refundable deposit conditions for associations/group of allottees. CoC can waive the performance security requirement for such groups. 

9. Monitoring Committee for Resolution Plan Implementation: CoC may form a monitoring committee to oversee resolution plan implementation. 

• Can include the RP, representatives of CoC, and resolution applicants. 
• If RP is part of the committee, their fee cannot exceed the fee received during CIRP. 
• Quarterly reports on implementation must be submitted to the Adjudicating Authority. 

These changes aim to accelerate real estate insolvency resolutions, improve transparency, and enhance creditor engagement.