Greater Noida Authority Appeals Insolvency Payout in NCLAT

The Greater Noida Industrial Development Authority has appealed to the NCLAT, challenging a resolution plan that offers it only a 5% payout on its Rs. 82.23 crore claim.
The appellant, a secured creditor, argues that the plan unfairly pays homebuyers in full while offering it only Rs. 3.96 crore against its Rs. 82.23 crore claim.
The NCLAT has issued notice to the respondents and will hear the case, allowing the appellant to raise objections before the adjudicating authority.