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Supreme Court pauses NBCC takeover of Supertech's housing projects, affecting 42,000 buyers.
The Supreme Court has temporarily halted a decision by the National Company Law Appellate Tribunal (NCLAT) that assigned state-owned NBCC to manage 16 unfinished housing projects of Supertech Ltd, affecting over 42,000 homebuyers.
The court is reviewing if the assignment followed proper procedures under the Insolvency and Bankruptcy Code.
Stakeholders have been asked to submit alternative proposals by March 21, with a further hearing scheduled for April.
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La Corte Suprema detiene la adquisición por NBCC de los proyectos de vivienda de Supertech, afectando a 42.000 compradores.