Supertech

Supertech Realtors is a wholly owned subsidiary of the beleaguered realty major Supertech Ltd which is facing insolvency proceedings.

Bankruptcy-bound Supertech gives possession of 6k flats in last 3 years; 15k buyers still stuck

There are still around 15,000 flats undelivered in these 16 projects across Noida, Greater Noida and Meerut.

NBCC to take over, complete 16 pending projects of Supertech over three years

The NCLAT appointed NBCC has a project management consultant to complete Supertech's pending developments, which include 50,000 dwelling units.

Supernova insolvency case: NCLAT to wait for lenders' decision on settlement offer from Supertech Realtors

NCLAT also directed the Interim Resolution Professional (IRP) not to constitute a Committee of Creditors. However, it said the construction work for the project would be continued under the supervision of IRP

Delhi court grants bail to Supertech chairman RK Arora in money laundering case

Additional Sessions Judge Devender Kumar Jangala granted relief to Arora, noting that there was no likelihood of him evading the trial or influencing the investigation.

Delhi HC denies default bail to Supertech chairman R K Arora in money laundering case

The respondent (ED) has already submitted the requisite documents for obtaining expert opinion from the Forensic Science Laboratory (FSL). Preparation of the FSL report is not in the control of the investigating agency, though it can take steps for expediting the process.

DLF shares open flat after ED raid as part of Supertech probe

Enforcement Directorate (ED) on November 25 searched the premises of the realty major as part of a money laundering investigation against real estate firm Supertech and its promoters.

ED searches realty major DLF in money laundering case against Supertech

DLF in an official statement said that ED visited their premises seeking information with respect to investigation being conducted in the matter of Supertech and the officials sought details of transactions relevant to the said investigation.

Noida twin tower demolition: SC asks Supertech to pay Rs 75 lakh by January to homebuyers

On July 17, the SC asked Supertech to pay Rs 1.25 crore towards refunding 15 homebuyers of the demolished twin towers. The 15 homebuyers had to be paid a sum of Rs 7.04 crore, and currently, Rs 75 lakh remains to be paid

NCLT admits Supertech ORB to insolvency resolution process

The order was passed in a plea filed by Assets Care and Reconstruction Enterprises Limited (ACRE) for defaulting in repayment of a debt of Rs. 482 crore, which includes both principle and interest

Govt likely to amend insolvency code to enable project-wise resolution in real estate sector: Officials

The proposed changes IBC will allow more targeted and efficient resolution of financially distressed real-estate companies. By allowing proceedings only against specific projects that have defaulted, the potential disruption to the company's operations could be minimised.

Money laundering case: Delhi court takes cognisance of charge sheet against Supertech chairman

The judge also issued a production warrant against Arora and directed the jail officials concerned to produce him before the court on October 30.

Delhi court to consider taking cognisance of charge sheet against Supertech chairman on Sept 26

Special Judge Devender Kumar Jangala reserved the order on Monday, after the conclusion of arguments advanced by the counsel appearing for the Enforcement Directorate (ED) as well as the accused.

ED files charge sheet against Supertech chairman R K Arora in money laundering case

The nearly 100-page prosecution complaint, ED's equivalent of charge sheet, was filed before Special Judge Devender Kumar Jangala, claiming there was sufficient evidence to prosecute Arora for laundering money.

NCLT defers hearing in ICICI Bank insolvency plea against Supertech Township to Aug 16

The case is likely to come up for hearing on August 16

Delhi court extends Supertech chairman R K Arora's judicial custody till August 7

The accused was produced before the court on expiry of his earlier custody and the ED said his release may hamper the ongoing investigation.

SC asks Supertech to deposit Rs 1.25 crore to pay homebuyers of demolished twin towers

Amicus curiae Gaurav Agarwal told the court that out of the total outstanding of Rs 7.04 crores due to 15 home buyers and a balance of Rs 2.55 crores is still due and payable to them by the developer.

Delhi court sends Supertech chairman RK Arora to judicial custody till July 24

The court had on June 28 remanded the realtor to ED custody till July 10 for interrogation in a money laundering case

Supertech case: Buyers ask if builder’s arrest can help them get their homes

The builder had diverted funds collected from homebuyers and banks to shell companies instead of using them for the projects they were meant for, which still lie unfinished after almost a decade.

Supertech owes dues worth Rs 3,358 crore to three authorities in Gautam Budh Nagar

Noida Authority, Greater Noida Industrial Development Authority and Yamuna Expressway Industrial Development Authority are the three entities. Officials say Supertech will find it difficult to repay the dues now as its CMD was recently arrested on money-laundering charges.

Delhi court sends Supertech chairman RK Arora to ED custody till July 10

On June 27, the ED had arrested Arora on money-laundering charges. He was taken into custody under the criminal sections of the Prevention of Money Laundering Act (PMLA), after a third round of questioning.

ED arrests real estate firm Supertech's chairman R K Arora in money-laundering case

Arora was taken into custody under the criminal sections of the Prevention of Money Laundering Act (PMLA), following a third round of his questioning at the federal agency's office

SC gives go-ahead to resolution plan submitted by Supertech before insolvency court

Supertech had conveyed to both NCLAT and the Supreme Court that it had arranged priority funding of up to Rs 1,600 crore from investment fund Oaktree Financial for construction and completion of the projects.

Failure to pay dues: Supertech CMD briefly detained; later released

According to district administration officials, recovery certificates worth Rs 33 crore were issued against Supertech by UPRERA which prompted the action.

Supertech Upcountry project: YEIDA cancels allotment of 2 plots over non-payment of dues

One is a 13,750 sq mt commercial plot and another is for institutional use measuring 25,000 sq mt. Supertech, which hasn't paid dues of Rs 86 crore, says the termination is illegal