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HNGIL’s Insolvency Fiasco: The Dysfunction of the CoC and the RP in the HNGILCIRP

Brief Facts The evolving interface between competition law and insolvency regulation has given rise to a complex set of questions regarding regulatory sequencing, statutory harmonisation, and market oversight.  The Committee of Creditors (CoC), under the Insolvency and Bankruptcy Code, 2016 (“IBC”/ “the Code”), are entrusted with the responsibility of reorganisation and resolution of a debt-ridden…

Bankruptcy-bound Supertech gives possession of 6k flats in last 3 years; 15k buyers still stuck

Crisis-hit realty firm Supertech Ltd, which is facing insolvency proceedings, has given possession of 6,121 apartments to its customers over the last three years across various housing projects, according to RK Arora, a former director of the debt-ridden firm. These units have been delivered across 16 under-construction projects by the company’s ex-management, under the supervision…

Supertech Delivers Over 6,000 Flats Amidst Insolvency Crisis; 15,000 Buyers Still Waiting, ETRealty

NEW DELHI: Crisis-hit realty firm Supertech Ltd, which is facing insolvency proceedings, has given possession of 6,121 apartments to its customers over the last three years across various housing projects, according to RK Arora, a former director of the debt-ridden firm. These units have been delivered across 16 under-construction projects by the company’s ex-management, under…