Supertech Township Projects lender rejects settlement proposal, NCLAT to decide on insolvency, ET LegalWorld
Punjab & Sind Bank, the lead lender of Supertech Township Projects, has rejected the settlement proposal and NCLAT will now take a final decision on the insolvency of the debt-ridden realty firm. Counsel representing Ram Kishore Arora, the suspended director of the realty firm informed NCLAT on Thursday about the rejection of the settlement proposal. […]
NCLAT appoints NBCC as PMC to complete 16 Supertech projects worth ₹9,445 cr, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) has appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd. NBCC will Complete 16 projects with 49,748 nos. of houses in Uttar Pradesh, Uttarakhand, Haryana, and Karnakata. The tentative construction cost of the project is approx Rs. 9,445 crore including […]
Supertech Engineers vs Commissioner Of Central Tax Delhi West … on 10 December, 2024
Delhi High Court Supertech Engineers vs Commissioner Of Central Tax Delhi West … on 10 December, 2024 Author: Yashwant Varma Bench: Yashwant Varma * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 13 August 2024 Judgment pronounced on: 10 December 2024 + W.P.(C) 4831/2021 M/S VOS TECHNOLOGIES INDIA PVT. LTD. […]
SC allows NCLAT to consider NBCC proposal for 17 stalled projects of Supertech Ltd, ET LegalWorld
The Supreme Court on Tuesday allowed the National Company Law Appellate Tribunal (NCLAT) to examine and decide a proposal of the state-owned NBCC seeking to complete embattled realty major Supertech Limited’s 17 stalled projects where around 27,000 hassled home buyers are stuck for years. A bench of Justices Sanjiv Khanna and Sanjay Kumar which issued […]
NCLAT grants two weeks time for Supertech Township’s settlement proposal, ET LegalWorld
The Insolvency appellate tribunal NCLAT has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore Arora to circulate the settlement proposal to both its lenders and home buyers. The National Company Law Appellate Tribunal (NCLAT) also suggested the realty firm facing insolvency proceedings to publish the settlement proposal […]
Fraud Charges Filed Against Supertech Limited and Managing Director RK Arora, ET LegalWorld
A Delhi court recently ordered the framing of charges for the offence of fraud against real estate company Supertech Limited, its managing director RK Arora, and two agents of the company. Gaurav Vij, the complainant, alleged that he was promised returns on investment and invested Rs 11.8 lakh in 2013, but the funds were diverted […]
NBCC moves SC to complete stalled projects of realty major Supertech Ltd, ET LegalWorld
The state-owned NBCC on Tuesday moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited’s 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. These 17 projects were launched in the National Capital Region, Dehradun and Bengaluru but completion of the residential units was […]
NCLT directs IRP to respond to 26,000 homebuyers of Supertech, ET LegalWorld
The National Company Law Tribunal (NCLT) has directed the interim resolution professional (IRP) to respond to applications filed by representatives of over 26,000 homebuyers of Supertech Ltd. Authorized Representatives (ARs), appointed by the order of NCLAT, and registered association post holders representing 26,500 home buyers from eleven projects of Supertech Ltd had filed their prayers […]