The recommendation regarding the use of insolvency code for stalled housing projects is to consider it as a last resort. Here are some key points to support this recommendation:

• Exploring alternative solutions: Before considering insolvency, it is vital to explore alternative solutions such as debt restructuring, refinancing, or project completion by other developers.
• Protection of homebuyers: Insolvency code should be used cautiously to ensure that the interests of homebuyers are protected. Their investments should not be jeopardized due to insolvency proceedings.
• Cost-effectiveness: The application of the insolvency code can be a lengthy and expensive process, involving legal proceedings. Therefore, it should be utilized only when other viable options have been exhausted.
• Promoting project completion: Efforts should be made to facilitate the completion of stalled projects, as it will benefit both homebuyers and the real estate sector as a whole.
• Coordination among stakeholders: Stakeholders, including homebuyers, developers, financial institutions, and government agencies, should collaborate and coordinate to find solutions for stalled housing projects.

Overall, while the insolvency code can be considered as a last resort, exploring alternative solutions and prioritizing the protection of homebuyers' interests should be the primary focus.