Famous real estate company Supertech Limited, facing insolvency proceedings, has given 6121 flats to its customers in different housing projects in the last three years. Former director of the company R.K. Of. Arora gave this information. The former management of the flat company gave these in 16 under construction projects under the supervision of a resolution professional appointed by the National Company Law Tribunal (NCLT). NCLT in its order of March 25, 2022 included Supertech Limited in the Corporate Insolvency Solution Process (CIRP).
6121 flats are given in 16 undercurcancies projects
The promoter then filed an appeal before the National Company Law Appellate Tribunal (NCLAT). The Appellate Tribunal, in its order of June 2022, directed the formation of a committee of lenders (COC) in relation to only one project ‘Eco Village-2’. All other projects were to complete the pre -management under the supervision of interim solutions professional (IRP). Arora, former chairman of the suspended board of Supertech Limited, said in a statement on Monday that the company has given 6121 flats in its 16 undercut projects since June 10, 2022.
15,000 flats are still to be given to customers
In these 16 projects located in Noida, Greater Noida and Meerut, about 15,000 flats have still not been given to customers. He said that the company is moving forward on the path of giving 1000 more flats in the next three months. Arora said that the company and Apex Heights Private Limited jointly introduced a solution scheme to the Supreme Court to approve all 16 under construction projects as co-decade of projects. He said that if the court approves the joint resolution scheme, these projects can be completed in two years.
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