Page 9 - Supertech Limited News Today

The Supreme Court has declined to grant any interim relief in respect of order passed by the National Company Law Appellate Tribunal (“NCLAT”) directing ‘project wise insolvency resolution process’ of...

Supertech Chairman R K Arora welcomed the order, saying it favoured all the stakeholders. He said the company would finish all the projects and deliver the flats within two years.

Supertech had conveyed to both NCLAT and the Supreme Court that it had arranged priority funding of up to Rs 1,600 crore from investment fund Oaktree Financial for construction and completion of the projects.

The Supertech Group condemned the action of the district administration. "The illegal action has caused tremendous hardship to the home buyers who need to visit these offices for their various needs," a company executive said., Delhi News, Times Now

(This story has not been edited by THE WEEK and is auto-generated from a PTI

The Gautam Buddh Nagar district administration has sealed the office of real estate major Supertech Group in Noida over dues, officials said on Wednesday.

The attachment is part of the agency’s money-laundering probe based on cases registered by the police in three states.

Delhis Saket court has directed Delhi police to register an FIR against Supertech Limited in a matter pertaining to the alleged delay in the possession and consequent breach of the agreement.

Around 50,000 to 1 Lakh flats in Noida do not have actual Occupancy Certificates, the twin-tower builder Supertech offered 9,705 such flats to customers.

The Real Estate Regulatory Authority (RERA) of Gurugram issued non-bailable warrant against 18 city-based builders during the present year.