<h1>Homebuyers' societies cannot intervene in developer insolvency under the IBC; only creditors/allottees have direct standing.</h1> Homebuyers' maintenance societies and RWAs lack locus standi to intervene in insolvency proceedings under the IBC because participatory rights are confined to statutorily defined categories; a society that has not itself advanced funds, executed allotment agreements, or received allotments cannot be a financial creditor, and collective representation arises only post-admission through the authorised representative mechanism.