With a series of real estate developers like Supertech, Jaypee Associates & Jaypee Infratech, several Logix group and Three C (3C) group companies etc located in Delhi NCR making a beeline for insolvency proceedings under Insolvency and Bankruptcy Code (IBC) 2016 before National Company Law Tribunals (NCLT) across the country because of default in the delivery of flats to homebuyers as well as repayment of bank loans, attention is getting drawn to the role of statutory auditors in audit of real estate companies and their qualifications of the accounts.
