SC asks NCLAT to take decision on 14 housing projects of debt-ridden Supertech

NEW DELHI: (Apr 20) The Supreme Court on Monday asked the NCLAT to take an expeditious decision on the amalgamation of the remaining 14 housing projects of debt-ridden realty firm Supertech under a court-monitored framework to ensure completion and end the woes of homebuyers.

Earlier, the top court, on February 5, upheld an NCLAT (National Company Law Appellate Tribunal) order asking the State-owned NBCC to complete 16 housing projects, out of a total 30, of Supertech Limited. The NCLAT is likely to take up the matter on April 24.

A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi took note of the apprehension of homebuyers over uncertainty on the completion of the stalled projects, which are still in limbo and being dealt by the debt-ridden firm unlike 16 other projects that were earlier handed over to the PSU NBCC