Supreme Court Greenlights NBCC's Takeover of Stalled Supertech Projects

The Supreme Court has given a green light for the completion of 16 delayed housing projects in the Delhi-NCR zone, originally intended to be developed by Supertech between 2010 and 2012. The state-owned NBCC has been tasked to finish the construction within a three-year timeframe, providing a sigh of relief to nearly 50,000 stranded homebuyers.

A bench headed by the Chief Justice of India has upheld the National Company Law Appellate Tribunal's order dated December 12, 2024, citing no deviation from the Insolvency and Bankruptcy Code. The bench pointed out Supertech's failure to meet deadlines and fund mismanagement, justifying the handover to NBCC to secure the interests of affected buyers.

The decision is final and cannot be contested in any court. Notably, the Supreme Court previously paused the NCLAT's order on February 21, 2025, but the ruling now firmly places NBCC at the helm, set to manage and complete the projects estimated at a cost of ₹9,500 crore.