The Supreme Court has asked the NCLAT to quickly decide on merging debt-ridden Supertech’s remaining 14 housing projects. The plan is to move stalled construction toward completion while addressing homebuyers’ long-running grievances. NCLAT will hear all stakeholders, including land agencies and farmers, following an earlier order for NBCC to finish 16 other Supertech projects.
The Supreme Court has asked the National Company Law Tribunal to quickly decide whether a court-appointed oversight committee is required for Supertech’s 30 stalled projects. The direction follows the suspension of the interim resolution professional, raising worries among homebuyers about timelines and project completion. NCLT will examine whether such a committee should cover all projects or only those handled by NBCC.
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