Noida: Residents of stalled Supertech projects have urged authorities to expedite construction, saying several projects remain incomplete despite the National Buildings Construction Corporation (NBCC) being appointed to complete them.Arun Sharma, president of Supertech Capetown in Sector 74, said the project has 5,038 flats spread across 39 towers, of which three towers remain incomplete. “The developer has handed over 4,419 flats, while nearly 500 flats are yet to be delivered. Around 3,300 of the handed-over flats have been registered so far,” Sharma said.He said the society continued to suffer from several deficiencies, including the absence of a functional firefighting system, sewage treatment plants (STPs) and adequate electrical infrastructure. “Although NBCC has taken over the project, no construction activity is visible on the ground,” he added.Supertech Ltd launched several residential and commercial projects in Noida, Greater Noida, the Yamuna Expressway region, Gurgaon and other cities, mostly between 2010 and 2012. Delays in completing these projects led to defaults on repayments to financial creditors.In March 2021, Union Bank of India initiated insolvency proceedings against Supertech under Section 7 of the Insolvency and Bankruptcy Code (IBC) before the National Company Law Tribunal (NCLT). On March 25, 2021, the NCLT admitted the petition after finding that the company defaulted on a loan of Rs 432 crore taken for the Ecovillage 2 project. The tribunal subsequently initiated the Corporate Insolvency Resolution Process (CIRP) and appointed Hitesh Goel as Interim Resolution Professional (IRP) to oversee the resolution process — Insolvency and Bankruptcy Board of India suspended Goel for two years in March 2026, after its disciplinary committee found lapses in the discharge of his duties.
Supertech projects halted
In Aug 2021, the Supreme Court ordered the demolition of Supertech’s Twin Towers for violation of building norms in “collusion” with Noida Authority officials, further straining the company’s finances. The towers at the Emerald Court Project in Sector 93A were razed on Aug 28, 2022.Supertech challenged the NCLT order before the National Company Law Appellate Tribunal (NCLAT) in June 2022. While allowing the company to continue, the appellate tribunal explored ways to complete the stalled projects and protect homebuyers, directing the IRP to hold talks with NBCC on taking over the unfinished housing developments.On Dec 12, 2024, the NCLAT approved NBCC as the implementing agency for 16 stalled Supertech projects. Six of these projects — Sports Village, Ecovillage 1, 2, 3, UP Country and Czar Suits — are in Greater Noida. Four projects — Eco Citi, Romano, Capetown and North Eye — are in Noida. Of the rest, two each are in Gurgaon and Meerut and one each in Uttarakhand and Bengaluru. Together, the projects comprise around 50,000 homes, nearly half of which have already been delivered.The suspended Supertech management challenged the NCLAT order before the Supreme Court in Dec 2024. On Feb 5, 2026, the apex court upheld the NCLAT’s decision entrusting NBCC with completing the projects, and directed that no tribunal or court, including any high court, should pass interim orders obstructing NBCC’s work.On the Supreme Court’s recent ruling, Supertech chairman RK Arora said, “The court has issued notice on reports of amicus and sought response from all stakeholders. Prima facie, the court was of the view that it would await the decision of NCLAT, hence listed the matter on Aug 6.”
