Homebuyers File Review Petition Against Supreme Court Judgment Holding Greater Noida Industrial Authority A 'Secured Creditor' Under IBC

The Supreme Court is considering a plea seeking a review of its judgment which held that NOIDA shall be treated as a secured creditor. The review petition challenges the apex court's earlier ruling on the status of the New Okhla Industrial Development Authority (NOIDA) in insolvency proceedings. The outcome of this review could have significant implications for the treatment of development authorities as creditors under the Insolvency and Bankruptcy Code.