The Supreme Court has appointed a three-member committee — headed by former Chief Justice of Jammu and Kashmir High Court Justice M M Kumar — to oversee the Corporate Insolvency Resolution Process (CIRP) of realty major Supertech Realtors Pvt. Ltd, caught in a series of litigation with homebuyers and others over its ambitious mixed-use project Supernova project in Noida’s Sector 94. CIRP is a legal framework designed to resolve issues with defaulting companies.
The committee will also comprise former National Buildings Construction Corporation (NBCC) chief managing director Anoop Kumar Mittal, and financial management expert Rajeev Mehrotra. The top court also asked the Committee “to appoint a reputed and experienced entity…