The Supreme Court ordered the handover of 16 Supertech projects in Delhi-NCR to the National Buildings Construction Corporation (NBCC). The top court’s order came as a big reprieve for homebuyers from the 2010–2012 period.
51,000 homebuyers get relief after SC order
Following the apex court’s order, as many as 51,000 homebuyers will get relief. The court has asked NBCC to complete the projects within two years. The builder, Supertech, has not completed the projects and allegedly transferred the company’s money elsewhere.
The top court has upheld the NCLAT’s order. It also said that no court or forum will intervene in the matter after its decision.
SC upholds NCLAT order on NBCC takeover
“We find that the order passed by the NCLAT on December 12, 2024, bringing NBCC on record for the completion of the pending housing projects, is neither unfair nor contrary to the provisions of the Insolvency and Bankruptcy Code (IBC),” LiveLaw quoted the top court as saying.
SC invokes Article 142 in Supertech case
The Supreme Court invoked Article 142 of the Constitution. The top court stated in its order that the lenders of Supertech will be addressed only after NBCC completes the projects and hands them over to the homebuyers. The apex court also said that homebuyers must receive all the promised facilities, including electricity, water and sewage connections, as well as roads and parks in the vicinity.
The apex court also took note of how the builder had promised to deliver flats during the 2010–12 period but left thousands of homebuyers in the lurch due to delays and the company’s financial crunch.
