hyderabadupdates.com Real Estate Homebuyers’ maintenance societies, RWAs can’t intervene in insolvency process of developer: SC

Homebuyers’ maintenance societies, RWAs can’t intervene in insolvency process of developer: SC

The Supreme Court has ruled that homebuyers’ societies cannot intervene in the insolvency proceedings of a developer company. The court stated that these associations are formed for maintenance and management of common facilities. They lack the legal standing to participate in such insolvency cases.

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