The National Company Law Tribunal (NCLT) has directed the interim resolution professional (IRP) to respond to applications filed by representatives of over 26,000 homebuyers of Supertech Ltd.
Authorized Representatives (ARs), appointed by the order of NCLAT, and registered association post holders representing 26,500 home buyers from eleven projects of Supertech Ltd had filed their prayers in an IA (Intervention Application), what is now being called the ‘Common IA’ to protect the rights of home buyers which was accepted by NCLT.
The chairperson directed IRP Hitesh Goel to respond to the demands of the homebuyers. A delegation of home buyers from North Eye, Ecociti, Romano and Cape Town from Noida, Ecovillage 1, Ecovillage 3, Sports Village from Greater Noida, Upcountry from Yamuna Expressway, Araville and Hilltown from Gurugram and Micasa from Bengaluru had moved this application, supporting NBCC subject to an allottee-friendly plan.
The association had requested NBCC to submit a resolution proposal taking into consideration some key demands of homebuyers.
The demand also included a forensic audit of Supertech to help NBCC in making a robust plan which will be beneficial for all stakeholders and will help NBCC avoid the problems faced in Amrapali.
The homebuyers had also demanded complete removal of management of Supertech and there should be no cost escalation for existing homebuyers.
The court has also sought suggestions and objections from various stakeholders (including homebuyers and banks) within two weeks. The IRP was directed to compile all suggestions and objections and upload them on the website of Supertech as well as file them in the court.
During the hearing, IRP’s counsel contested NBCC proposal by arguing that he has received objections from 10 homebuyers on NBCC’s proposal, on which NBCC’s counsel said that he has received more than 500 emails from homebuyers supporting NBCC.
Almost 1,900 homebuyers across projects have already evinced their support to NBCC, subject to an allottee friendly plan.
The homebuyers are supporting NBCC, which has expressed its willingness to take over the projects.
