NBCC’s Commitment to Complete Supertech Projects
Recently, NBCC announced its plan to finish 16 unfinished projects by Supertech, taking inspiration from the successful Amrapali model. During a hearing at the NCLT, NBCC emphasized the importance of forming a single committee to streamline decision-making and avoid delays in project completion. This initiative aims to ensure that buyers can finally receive their long-awaited homes. The next hearing is set for Monday, where further discussions will take place.
Proposals and Objections in Court
In a bid to tackle the incomplete Supertech projects, NBCC presented its original proposal in the NCLAT, which was later revised following objections. The revised plan suggests that these projects could be completed within a timeframe of 12 to 36 months. However, this proposal faced resistance from both Supertech and relevant authorities, indicating that there are still various concerns to address. Supertech has also requested the court to consider proposals from five other companies, reflecting the complexities involved in resolving this situation.
Buyers’ Expectations and the Way Forward
Amid these discussions, buyers are expressing growing frustration and are calling for NBCC to take full responsibility for completing the projects. The Interim Resolution Professional, Hitesh Goyal, confirmed that all parties presented their arguments during the court hearing. As the case progresses, the focus will remain on finding a viable solution that satisfies all stakeholders involved. With the next hearing approaching, many are hopeful that a clear path forward will be established, ultimately allowing buyers to move into their new homes soon.
SHOTRS COVERAGE.
Summary of NBCC’s Proposal for Supertech Projects
NBCC has proposed to complete 16 unfinished Supertech projects based on the successful Amrapali model during a recent NCLT hearing. A demand for a unified committee to expedite decision-making was raised, with a follow-up hearing scheduled for Monday. NBCC’s initial proposal suggested a 12 to 36-month completion timeframe, but faced objections from Supertech and authorities. Buyers are advocating for NBCC to oversee the projects, while Supertech has requested consideration of proposals from five other companies.
