Noida: The National Company Law Tribunal (NCLAT) has started the bankruptcy process against another company of Supertech Group and has also appointed an interim resolution professional. This action has been taken against Supertech Township Private Limited, which is building a golf country project in the Yamuna Authority area. An appeal was filed in the court against this company by Punjab and Sindh Bank. Let us tell you that this bank has a debt of more than 216 crores on the company.
Several notices have been sent to the company by the bank
Punjab and Sind Bank has said that they had passed a loan of Rs 140 crore to this company of Supertech on 18 March, 2013. This project of Group Housing was on Golf Country Plot No. TS-5 Sector-22D Yamuna Expressway. The company did not deposit the installment of this loan and by June 30, 2023, the outstanding of the bank had increased to Rs 216 crore 90 lakh 87 thousand. In this case, several notices were also sent to the company by the bank.
Hearing the matter, NCLT has started the process of declaring the company bankrupt and appointed IRP. Umesh Singhal has been appointed as IRP of this company.
This project is also being investigated
In the board meeting of Yamuna Authority held on June 26, a proposal to cancel the plot of this project was passed, which later became a controversy. It was alleged that the officials raised its proposal in the board meeting by hiding the facts, while this matter was pending in the High Court. In this case, the investigation is being done against the officials of the Law and Group Housing Department of the Authority. There are about 3200 buyers in this project of Supertech. And Yamuna Authority owes more than 677 crores to Supertech.
Action was also taken against Supertech Realtors
Action to declare Supertech Realtors Private Limited bankrupt started a month ago. The Supernova project is being prepared by this company. This is the tallest project in NCR. The company was declared bankrupt on the petition of the Bank of Maharashtra. The bank owes more than Rs 168 crore to the builder company. Noida Authority owes more than Rs 2100 crore to the builder in lease rent and other items on this project. Due to non-payment of dues, other processes including the registry in this project have been stopped for about three years.
Report being prepared for incomplete projects
NBCC has taken up the responsibility of completing 14 incomplete projects of Supertech. It has started preparing the report by inspecting all the projects. NBCC has started preparing this report on the instructions of NCLT. This proposal was put forward by the flat buyers of Eco Village-2. Hitesh Goyal, the IRP appointed on Supertech, said that a proposal was made by the buyers of Eco Village-2 in NCLT to get their incomplete projects completed through NBCC. After this, NBCC started preparing the report.
‘Project stuck due to land dispute‘ – R. K Arora
R. K Arora, Supertech Group, Chairman says that this project is in the Yamuna Authority area. Due to a land dispute, the completion of the project was delayed. They have not had possession of the entire land of this project. He will also appeal against this decision in NCLAT. Along with this, as per the policy of Yamuna Authority, he is trying to reach an agreement with the banks by inviting a co-developer to this project. He intends to complete this project soon and provide their homes to the buyers.
The process of declaring them bankrupt continues
Supertech Realtors
Supertech Limited
Supertech Township