A Supreme Court-appointed committee has informed the National Company Law Appellate Tribunal (NCLAT) that construction at 16 stalled Supertech projects will begin on January 16, 2027. Tenders for the work are scheduled to be issued in phases between October 1 and 15, 2026.

The National Buildings Construction Corporation (NBCC), acting as project management consultant, and the Apex Court Committee are preparing an implementation schedule to meet the revised construction start date. In an affidavit filed before NCLAT on September 24, the committee said NBCC was finalising tender documents and planned to issue at least 27 separate sub-tender packages.

NBCC has already floated a tender for the Supertech River Crest project in Rudrapur. The committee said it would ensure that the relevant project sites were available for construction. However, it identified funding as a significant challenge and said it was pursuing interim finance, institutional funding from public sector banks and other resource-mobilisation options.

The committee received financing proposals from two investment and capital firms but found them unviable because of the interest rates offered. It subsequently approached public sector banks, which sought a techno-economic viability report before assessing the proposed funding. The report has been commissioned and is scheduled for completion by December 15, 2026.

The sale of unsold inventory has also been identified as a potential funding source. A major global accounting and professional services firm has been asked to verify the inventory listed as unsold in an NCLAT order dated December 12, 2024. The 16 projects comprise 50,356 units, of which 40,316 have been sold and 10,040 remain unsold.

The Supreme Court approved NBCC’s takeover of the projects in February 2026. The developments are located in Uttar Pradesh, Uttarakhand and Bengaluru, including four in Noida, five in Greater Noida, and others along the Yamuna Expressway and in Gurugram, Meerut, Rudrapur and Dehradun.