Under the Insolvency and Bankruptcy Code, the NCLT’s Delhi bench has also designated Hitesh Goel as the insolvency resolution professional (IRP) in this case (IBC). PSP Legal, which has filed multiple petitions against Supertech, advises homebuyers not to worry and to register their claim with IRP as soon as possible.
The Union Bank of India approached the Tribunal on behalf of the lenders, requesting that the corporation be declared insolvent.
Supertech Limited is India’s premier real estate developer; it was created 32 years ago in the National Capital Region and has steadily grown since then.
Supertech, a Realty major, declares Bankruptcy; the NCLT bench appoints an IRP.
After the National Company Law Tribunal’s Delhi bench approved a petition filed by the Union Bank of India for non-payment of dues, Supertech, a developer based in Delhi-NCR with projects in Noida, Greater Noida, Gurugram, and Ghaziabad, declared insolvency on March 25.
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