Real estate firms move SC against 'financial creditor' tag for homebuyers

Real estate companies such as Wave Group’s Wave Megacity Centre, among others, are said to have approached the Supreme Court challenging the government’s decision to grant homebuyers the status of financial creditors.

In their petition before the top court, these real estate companies have claimed that granting financial creditor status to all homebuyers and real estate allottees will complicate the situation as they will now have to accommodate all such people to the committee of creditors.

“These companies have been fighting battles on many fronts. Adding homebuyers to the mix has only added confusion. In fact, if they are not