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The Hindu
The Hindu
National
PTI

Supertech Ltd. declared bankrupt; NCLT orders insolvency proceedings in ₹432-crore default case

NCLT SuperTech Supertech Ltd Union Bank of India Noida CIRP IRP Uttar Pradesh

Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region.

Acting on a petition filed by the Union Bank of India for non-payment of about ₹432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd., one of the companies of Supertech group.

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