SC stays NCLAT order asking NBCC to complete Supertech housing projects

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SC stays NCLAT order asking NBCC to complete Supertech housing projects - Business Standard

Quick Summary:

The Supreme Court on Friday stayed an order appointing state-owned NBCC as the project management consultant to complete debt-ridden realty firm Supertech Ltd's 16 housing projects at nearly Rs 9,500 crore cost.

The bench issued notices to the parties on the appeals and stayed the NCLAT order that appointed NBCC to take over the Supertech projects.

A bench comprising Chief Justice Sanjiv Khanna and Justices Sanjay Kumar and K V Viswanathan heard two appeals against the NCLAT order and expressed concern for home buyers.