Debt-laden Supertech offered 9,705 flats across 18 residential projects to their owners without obtaining occupancy certificates from the respective development authorities, according to a report prepared by the realty firm’s interim resolution professional. The Interim Resolution Professional (IRP) Hitesh Goel has submitted the status report about the company to the National Company Law Appellate Tribunal […]
Tag: NCLAT
Supertech Insolvency: Lender Asks Better Settlement Plan, ‘Definite Upfront Payment’ Of Dues
Debt-ridden Supertech Ltd, which is facing insolvency proceedings, should come up with a settlement plan that entails “definite upfront payment” of dues, according to one of its lender Union Bank of India. The bank on whose application the National Company Law Tribunal (NCLT) decided to initiate insolvency resolution proceedings against Supertech Ltd has made the […]