Page 20 - Supertech Ltd News Today

The Supreme Court on Monday assured that it will protect the interest of homebuyers in Supertechs twin tower in view of the Interim Resolution Professional (IRP) appointed in the insolvency proceedings against the real estate company.

Naredco's Uttar Pradesh Chapter represents developers having projects mainly under Noida, Greater Noida and Yamuna Expressway industrial development authorities.

All financial creditors, including real estate allottees of Supertech, must submit their claims with proof online.

Collier International (India) Property Services has reached NCLT against Logic Builder.

Supertech Ltd has 38,041 customers and out of them, homes have been delivered to 27,111 people. As many as 10,930 homes are yet to be delivered.

Apart from this, Supertech is also barred from transferring, encumbering, alienating, or disposing of any assets.

The NCLT acted on a petition filed by the Union Bank of India for non-payment of dues and appointed Hitesh Goyal as the interim resolution professional superseding the board of Supertech.

Meanwhile, many real estate companies are facing insolvency proceedings including Jaypee Infratech and Mumbai-based HDIL.

Meanwhile, Supertech, in a statement, said that it will challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).

Supertech Ltd has undertaken multiple projects in Noida, Gurugram, Ghaziabad, and Greater Noida. Thousands of homebuyers are awaiting their flats in these housing projects.