Noida: After Supertech Limited, another Supertech company has been declared bankrupt. Supertech Realtors, a Supertech company that built the country’s tallest 80-storey building Supernova in Noida, has gone bankrupt. NCLT, while hearing a case filed by the Bank of Maharashtra, declared Supertech Realtors bankrupt. All the directors of the company were suspended and an IRP was set up to look after the company’s operations.
A big blow to the Supernova’s investors
The company’s bankruptcy has become a big blow to Supernova’s investors. All the investors’ money is stuck. The project will be constructed up to 80 floors, out of which 70 floors have been completed. It is said that only celebrities have booked their houses in one of the project’s towers. Offices, malls and luxury hotels were being constructed in Supernova along with ultra-luxurious residential apartments.
Buyers yearning for possession
Many projects under Supertech Limited are already hanging in the balance. Those who have not got possession of the house are yearning to get it and those who have got possession are worried about non-registration. The same is going to happen to Supernova investors.
The total outstanding is Rs 150 crores
Bank of Maharashtra had given a loan of about Rs 150 crore to Supertech Realtors. Bank of Maharashtra told the court that soon after taking the loan, Supertech started defaulting in depositing the money. The builder did not pay any heed to the bank’s notice. The total outstanding of the bank on Supertech is Rs 168 crore. While hearing the case, the NCLT court declared Supertech Realtors bankrupt and declared Anju Agarwal as IRP.
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