Supertech Insolvency: Here’s How Homebuyers Can Submit Claims

Homebuyers can submit their claims along with proof online by visiting supertechlimited.com/public-announcement.php.eisdes For any queries, home buyers are requested to call on 8904039001 between 10 AM to 6 PM call.

The tribunal has appointed Hitesh Goyal as Interim Resolution Professional (IRP) to proceed with the insolvency proceedings.

supertech have taken a loan of 431.92 crore from Union Bank of India. According to the company, it has 38,041 customers, out of which 27,111 homes have been delivered, while over 10,000 home buyers will be affected by the NCLT order.

In a statement, Supertech said it would challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).

“In the matter of appointment of IRP in one of the Supertech Group companies by the National Company Law Tribunal (NCLT), the Management of the Company stated that the Company shall approach NCLAT in appeal against the order as the matter pertains to a financial creditor,” Supertech he said.

Further, the company said that in the interest of homebuyers, construction and delivery of projects were given priority over repayment of bank dues, which can be completed after the completion of the project.

The company has claimed that it has a “strong record of delivering over 40,000 flats during the last 7 years”, and they will continue to deliver to their buyers under ‘Mission Perfection – 2022’, with 7,000 units delivered by Supertech was started with the goal of December 2022.

This is the second big blow for Developers based in Noida in the past year.

On August 31 last year, the Supreme Court had ordered the demolition of Supertech Ltd’s twin 40-storey towers, which are part of the under-construction Emerald Court project in Noida, for violation of building norms.