Noida-based builder Supertech faces second major setback in the last one year; details here
Apart from this, Supertech is also barred from transferring, encumbering, alienating, or disposing of any assets.
Source: india.com
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NCLT Orders Insolvency Proceedings Against Supertech, Affecting Over 25,000 Homebuyers
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.
Source: thewire.in
Not just Supertech, Delhi-NCR's other real estate firms facing insolvency proceedings; check here
Meanwhile, many real estate companies are facing insolvency proceedings including Jaypee Infratech and Mumbai-based HDIL.
Source: india.com
Supertech to challenge NCLT order in National Company Law Appellate Tribunal
Meanwhile, Supertech, in a statement, said that it will challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).
Source: india.com
Supertech declared bankrupt, Are your flats safe?
Supertech Ltd has undertaken multiple projects in Noida, Gurugram, Ghaziabad, and Greater Noida. Thousands of homebuyers are awaiting their flats in these housing projects.
Source: indiatoday.in