Supertech insolvency: Company law tribunal stays formation of committee of creditors till April 19
India Today
In a big relief to Supertech Ltd and homebuyers, the Delhi-bench of National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the formation of the committee of creditors under the insolvency proceedings till April 19.
The Delhi-bench of National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the formation of the committee of creditors (CoC) under the insolvency proceedings till April 19 and issued notices to parties, giving a sigh of relief to Supertech Ltd. Listing the appeal till April 19, the NCLAT said that IRP shall not constitute the CoC during the stay period. The NCLAT stayed the formation of a committee under the insolvency proceedings till April 19 as the real estate developer sought time to negotiate with banks.
On March 25, the NCLAT initiated insolvency proceedings against Supertech Ltd after the Union Bank of India filed a petition over the non-payment of dues worth Rs 432 crore.
The appeal was filed by Ram Kishor Arora who expressed satisfaction over the interim order passed by NCLAT. He said that NCLAT has taken into consideration the concerns of all stakeholders, including homebuyers. Earlier, the homebuyers had sought immediate intervention of NCLAT to address their concerns.
The case pertains to the loan given by the Union Bank of India to the Eco Village II project at Greater Noida. The project was being developed at a total cost of Rs 1,106.45 crore.
With this, the fate of around 11,000 housing units became uncertain. Most of the buyers were skeptical about the capability of the persons appointed by NCLT to complete a large number of projects which were being developed by Supertech Limited. They cited no definite commitment on schedule of construction or delivery timeline from the appointed agency.
ALSO READ| Supertech declared insolvent by company law tribunal
Approximately 7000 home buyers belonging to different Home Buyer Associations had sought immediate intervention of NCLAT to allow the Promoters of Supertech to carry on construction so as to meet the construction and delivery timelines.
For years, Ram Setu has been invoked as "national heritage" in political discourse. But an RTI response reveals that, in official records, its status remains "nil".
Two LPG tankers tracked by India Today's OSINT team have taken the new route via Larak-Qeshm to cross the Strait of Hormuz.
What began as an abuse complaint has snowballed into a massive scandal involving rape allegations, hidden camera evidence, fraud and even murder claims, as more victims come forward against a Nashik godman.
From April 2026, the Delhi government is planning to recover over Rs 38,000 crore in dues to discoms.
The bill could increase total Lok Sabha seats to 816, reserving 273 for women, marking a major push to enhance female representation in Parliament based on the 2011 census.
Students told the Mahila Congress that the LPG shortage had disrupted their daily meals. They said the hostel administration had altered the menu, reduced one meal and discontinued evening tea in recent days.
India's consumer courts promise quick justice, but rising backlogs and staff shortages tell a different story. As cases pile up, the gap between what the system offers and what it delivers is widening.
A second patient died within 72 hours at RG Kar Hospital, with his family alleging that a lack of stretcher and basic facilities forced the critically ill man to walk 100 metres, leading to his death.
As Parliament prepares to bring amendments to the Transgender Act, activists warn the proposed changes risk rolling back years of hard-won rights.
A high-speed boat crash in the Maldives has left two Indians missing, including a celebrated rally figure, even as Gautam Singhania returns home. Search teams continue efforts amid mounting concern and unanswered questions.
A prominent seer, Pranavananda Swamiji, alleged that mutts backing Karnataka Deputy Chief Minister DK Shivakumar to take over the top post were denied any allocation in the state budget presented by Chief Minister Siddaramaiah. He reiterated his support for Shivakumar to take over as the chief minister.
India's original Dhurandhar, Ravindra Kaushik, rose from acting at college theatres, to infiltrating the Pakistan Army as a RAW Agent. He provided critical intelligence on Pakistani troop movements and the country's nuclear programme, but died a lonely death after his betrayal and subsequent capture by the ISI.