Real estate company Supertech went bankrupt, tension of home buyers increased by 25 thousand

Supertech, which is battling recession and financial crisis, has suffered another major setback on Friday. Actually, NCLT has declared bankruptcy for not paying EMI to the lenders. With this decision of NCLT, the tension of more than 25 thousand flat buyers has increased. 

New Delhi:  Supertech, which is battling recession and financial crisis, has suffered another major setback on Friday. Actually, NCLT has declared bankruptcy for not paying EMI to the lenders. With this decision of NCLT, the tension of more than 25 thousand flat buyers has increased. In fact, Union Bank of India, one of the lenders, had filed a petition in the NCLT after not getting the loan installment. The NCLT on Friday accepted the plea of ​​the bank and ordered the insolvency process.

This bank knocked on the door of NCLT
The Delhi Bench of the NCLT appointed Hitesh Goyal as Interim Resolution Professional (IRP) to take forward the process of insolvency in the matter. The NCLT had reserved its order after hearing the matter on March 17. It is noteworthy that Supertech had made an offer of simultaneous settlement in front of Union Bank, which was rejected by the bank.

Supertech will challenge the decision of NCLT in the Supreme Court
After this decision of NCLT, Supertech has said to challenge this decision. In the statement issued by the company, it has been said that it will approach the Supreme Court against this decision of NCLAT. The company has said in its statement that keeping in mind the interests of home buyers, it has given preference to complete the under-construction projects instead of repaying the loan installment. The company has said that after the completion of the projects, the bank was ready to pay the installment of the loan. The company has said that all their projects are profitable. Therefore, there is no apprehension of any loss to the participant from this.

This decision of NCLT will not stop the work
After the decision of NCLT, Supertech has said that this decision will not affect the operation of the company. The company has claimed that wherever the construction work is going on on the projects, it will continue without any hindrance. Along with this, the company has assured the home buyers that there is no need for any homebuyers of Supertech to panic. The company has said that we are committed to delivery. Super Tech has said that we have an excellent record of delivering more than 40 thousand units in the last 7 years. The company has once again claimed that we will continue to deliver to the home buyers as per their bookings.

News is originally taken from: https://www.newsnationtv.com/india/news/nclt-declares-spartech-bankrupt-261191.html

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