Supertech Homebuyers Seek Justice: NCLT Orders IRP to Address Concerns of 26,000 Buyers Across Noida, Greater Noida, and More

The National Company Law Tribunal (NCLT) has asked the interim resolution professional (IRP) to respond to over 26,000 homebuyers of Supertech Ltd who have raised concerns. These homebuyers, represented by authorized representatives and associations, have filed an Intervention Application (IA) to protect their rights, which has been accepted by the NCLT.

A group of homebuyers from Supertech’s various projects, including North Eye, Ecociti, Romano, and Cape Town in Noida, Ecovillage 1 and 3, Sports Village in Greater Noida, Upcountry on the Yamuna Expressway, Araville and Hilltown in Gurugram, and Micasa in Bengaluru, had submitted this application. They are backing a resolution plan from NBCC, provided it is buyer-friendly.

The homebuyers also called for a forensic audit of Supertech to help NBCC create a solid plan and prevent issues like those faced in the Amrapali case. They have also demanded the complete removal of Supertech’s management and requested that there should be no additional costs for existing homebuyers.

The court has asked all stakeholders, including homebuyers and banks, to submit suggestions or objections within two weeks. The IRP was instructed to gather all responses and upload them on Supertech’s website, as well as present them in court.

While some objections have been raised against NBCC’s proposal, more than 1,900 homebuyers across projects have shown their support for NBCC, provided the plan benefits allottees.