NCLT orders insolvency proceeding against Supernova project developer Supertech Realtors – Deccan Herald

New Delhi: The National Company Law Tribunal (NCLT) has ordered initiating an insolvency proceeding against Supertech Realtors, which is developing a residential apartment, office, retail and luxury hotel at its Supernova project.

A two-member Delhi bench of NCLT admitted the insolvency plea filed by the Bank of Maharashtra over a default of Rs 168.04 crore and appointed Anju Agarwal as interim resolution professional (IRP), suspending the board of Supertech Realtors, a step-down subsidiary of Supertech.

Supertech is also facing a Corporate Insolvency Resolution Process (CIRP).

Supertech Realtors is developing Supernova project at a cost of Rs 2,326.14 crore on a land admeasuring 70,002 square metres at Sector 94, N…

Read the full article at: https://www.deccanherald.com/business/companies/nclt-orders-insolvency-proceeding-against-supernova-project-developer-supertech-realtors-3068254