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

The Supreme Court has ruled that homebuyers' societies and Resident Welfare Associations cannot intervene in the insolvency proceedings of a developer company. The court clarified that only creditors with a genuine willingness to revive the corporate debtor can invoke the Insolvency and Bankruptcy Code. Alternative legal remedies are available for recovery.