Supertech insolvency matter: NCLAT stays formation of committee of creditors
Supertech Ltd's counsel had requested for adjourning the matter for a week to enable it to approach the bank for negotiations.
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Supertech Ltd's counsel had requested for adjourning the matter for a week to enable it to approach the bank for negotiations.
Supertech Ltd's counsel requested for adjourning the matter for a week to enable it to approach the bank for negotiations.
In a big relief to Supertech Ltd and homebuyers, the Delhi-bench of National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the formation of the committee of creditors under the insolvency proceedings till April 19.
Realty firm Supertech Ltd informed the top court that it will be filing an appeal against the order of the National Company Law Tribunal (NCLT) declaring it bankrupt on a plea filed by the Union Bank of India for non-payment of around Rs 432 crore worth of dues.
The Supreme Court on Monday said it will protect the interest of home buyers in Supertech's 40-storey twin towers against the backdrop of the appointment of Interim Resolution Professional (IRP) in the insolvency proceedings against the real ...