The Supreme Court has issued notice on the petition filed by National Buildings Construction Corporation (India) Limited (NBCC) challenging the National Company Law Appellate Tribunal (NCLAT) decision refusing exemption from provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA). The plea concerned NBCC's role in completing 16 stalled Supertech Limited projects. A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana has posted the matter for hearing on September 24, 2026.

In its May 22, 2026 order the NCLAT said it was not competent to grant any exemption from RERA and noted that it had issued directions to relevant statutory authorities. Those directions asked RERA authorities to consider and grant necessary approvals within a time bound period. The tribunal reasoned that such directions adequately protected NBCC's interests and therefore declined to allow a statutory exemption.

NBCC had sought relief from several RERA obligations, including the requirement to maintain a separate bank account and to deposit seventy per cent of amounts realised from allottees into that account. It also sought exemptions from requirements relating to allottee approvals and prior consent for transfer or assignment of majority promoter rights and liabilities. The application seeks modification and clarification of NCLAT's December 12, 2024 order that directed completion of the 16 projects after Supertech Limited's corporate insolvency resolution process began on March 25, 2022.

NBCC proposed to undertake construction and the tribunal clarified that the Supreme Court constituted committee would make final project wise decisions. It added that NBCC must only facilitate obtaining the Rs 1 bn initial finance and need not fund that amount, and fixed its fee at eight per cent comprising seven per cent project management consultant fee and one per cent marketing fee. On April 20, 2026 the Supreme Court asked NCLAT to consider whether court appointed oversight should extend to all Supertech projects or remain limited to the 16 entrusted to NBCC.