25000 Home Buyers Got A Big Setback, Know What is The Whole Matter

Home buyers, who have booked their house with Delhi-NCR-based big realty company Supertech Limited, have suffered a major setback on Friday. In fact, the developer who has several big projects going on in Noida, Greater Noida, Ghaziabad and Gurugram has gone bankrupt on March 25.

NCLT accepted the petition

Let us tell you that Supertech has a lot of debt due to Union Bank. However, the information about its debt has not been given in the report. The report said Union Bank of India had filed an insolvency petition against Supertech with the Delhi Bench of the National Company Law Tribunal (NCLT) due to the company’s repeated default on repayment of loans. The NCLT has accepted this petition on Friday.

The report said that the plans of Supertech running in Delhi-NCR are incomplete and a large part of the earnings of people who have booked their homes are involved in them. In such a situation, now that the insolvency process has been started against Supertech, it has dealt a big blow to about 25 thousand home buyers. These people have booked their houses in various projects of Supertech and they are yet to be given possession.