India, Feb. 10 -- The Noida authority will rope in an expert agency to help it recover and manage its financial dues owed by the realty firms, officials said on Sunday.

The move came as the authority realised that it struggles to recover its dues from the defaulter realtors.

"The new agency to be finalised through tendering process will be tasked with key works including monitoring escrow accounts (temporary accounts holding funds or assets until certain conditions are met), reviewing insolvency cases under the National Company Law Tribunal, and assisting with internal coordination," said a Noida authority official, adding that the initiative aims to boost financial oversight, streamline the recovery of land dues, and enhance regulatory...