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Tribunal stays bankruptcy proceedings against Supertech Township project

NCLAT has admitted the bank’s plea about dues of ₹216 crore, Supertech assured an appropriate plan would be submitted to Punjab and Sind Bank within seven days

In pursuance of the impugned order no further steps shall be taken (related with insolvency) except collation of claims which have already been invited, said the order delivered by NCLAT chairperson on Tuesday. (Virendra Singh Gosain/HT Photo (Representative image))
Updated on Jul 31, 2024 08:14 AM IST
By, Greater Noida

NCLT begins insolvency resolution process against Supertech

The NCLT’s order came in response to a plea filed by the bank that wants to recover ₹216 crore loan dues from Supertech

The tribunal (NCLT) said that since the developer’s account was termed as non-performing assets in 2018 itself, the promoter cannot be considered that he will complete and deliver the project, thereby starting the CIRP. (Sunil Ghosh/HT Photo)
Updated on Jul 22, 2024 05:46 AM IST

Yeida to meet Suraksha Group in a month to iron out farmer compensation issue

After the meeting, it was decided that a consultant will study the resolution plan of Suraksha Group, which is set to take over Jaypee, and will suggest a suitable way to address the issues related to the matter

The meeting was called after the National Company Law Appellate Tribunal (NCLAT) directed both parties to resolve the compensation issue. (Photo for representation)
Updated on Apr 27, 2023 11:59 PM IST
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