MUMBAI: The National Company Law Tribunal (NCLT) has admitted Canara Bank’s insolvency plea against Mumbai-based real estate company Supreme Housing and Hospitality Private Limited over alleged dues exceeding Rs 567 crore, after multiple failed one-time settlement (OTS) attempts and prolonged litigation.
The Mumbai bench of the tribunal, in an order dated May 13, initiated the corporate insolvency resolution process (CIRP) against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC).
Canara Bank claimed a default of Rs 567.43 crore as on October 31, 2025, including a principal outstanding of Rs 175.83 crore and interest dues of Rs 391.60 crore.
Before the tribunal’s order, Nitish Dhruva and Yash Dhruva of MDP Legal…