NBCC moves SC to complete stalled projects of realty major Supertech Ltd

A bench headed by justice Sanjiv Khanna agreed to take up the application for hearing on October 1 after homebuyers in some Supertech projects informed the court that NBCC has already submitted its terms and conditions before the National Company Law Appellate Tribunal (NCLAT), where the insolvency proceedings are pending against the real estate group.

Senior advocate Gopal Jain, appearing virtually for NBCC, agreed to put forth the submissions next week.

Currently, 17 Supertech projects across the country are incomplete, and under the NBCC proposal before NCLAT, the real estate group agreed to the completion of the more than 50,000 housing units. The public sector undertaking has proposed completing seven projects in Noida and Greater Noida under the first phase; five projects in Noida, Greater Noida and Meerut in the second phase; and the remaining five projects in Gurugram, Rudrapur, Bengaluru, and Dehradun in the third phase.