The Delhi-bench of National Company Law Tribunal appointed Hitesh Goel as the insolvency resolution professional (IRP). As per the Moneycontrol report, Hitesh was appointed under the Insolvency and Bankruptcy Code (IBC) for this matter.
According to a Moneycontrol Report, National Company Law Tribunal (NCLT) declared Supertech Ltd insolvent. Union Bank of India had filed a petition against Supertech ltd for the non-payment of dues although there is no clarity on how much money Supertech ltd needs to pay in order to clear its dues.
The Delhi-bench of National Company Law Tribunal appointed Hitesh Goel as the insolvency resolution professional (IRP). As per the Moneycontrol report, Hitesh was appointed under the Insolvency and Bankruptcy Code (IBC) for this matter.
Supertech’s statement
Supertech states that preference was given to construction and delivery of projects over repayment of bank dues. This was done in the interest of homebuyers as the payment can be fulfilled after project completion. It further tried to assure that the company is financially viable. So, there is no chance of loss to any party according to the company. The company official added that the order will not affect operations of any other Supertech Group Company.
“We have a strong record of delivering more than 40000 Flats during the last 7 years and we shall continue to give delivery to our buyers under our “Mission Completion 2022” under which we have undertaken a target of delivering 7000 Units by December, 2022,” the company said.
What should Homebuyers do?
There are various projects under Supertech Ltd in Delhi-NCR region such as Gurugram, Ghaziabad, Noida and Greater Noida. The ginormous projects have kept over 25,000 homebuyers waiting for possession of flats in the respective projects. Although it is natural to panic initially, homebuyers of Supertech flats should immediately file their claim with IRP with Hitesh Goel.
The Twin Towers
Earlier in February 2022, the Noida authorities informed the Supreme Court that Supertech’s twin 40-storey towers in the Emerald Court project would be demolished by May 22. The authorities further stated that the debris would be cleared by August 2022.
Published By: Apoorva Wakodikar
Edited By: Subbuthai Padma
