A Supreme Court empowered committee has issued a public notice that any real estate transaction involving Supertech Realtors’ Noida “Supernova” project requires prior written approval from the panel. This includes sale, transfer, assignment, conveyance, and creation of third-party rights for units in Supertech Realtors Pvt Ltd. Deals without approval will be treated as null and void ab initio, and past board resolutions won’t apply from December 16, 2025. The panel, chaired by Justice M M Kumar, has appointed PwC as transaction advisor to revive the stalled project.
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.
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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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