Supertech plans to raise Rs 300 cr to expedite construction in Delhi-NCR

25 Jun 2022 CW Team

Real estate company Supertech Ltd announced that it plans to raise approximately Rs 300 crore to expedite construction at its active projects throughout the Delhi-NCR market.

After receiving orders from the National Company Law Appellate Tribunal (NCLAT), dated June 10, allowing the company to continue project execution at all projects and limiting the scope of the corporate insolvency resolution process ordered by NCLT earlier.

Supertech told the media that it resumed construction in full swing at all of its projects.

On June 10, the NCLAT ordered that only one of Supertech's housing projects, not the entire company, would begin the insolvency process. It also directed the constitution of a Committee of Creditors (CoC) for just that project.

The Greater Noida project Eco Village II was the only one to be included in the Corporate Insolvency Resolution Process (CIRP) by a two-member NCLAT bench (west).

The chairman of Supertech, R K Arora, stated that the organisation would deliver homes to allottees while paying off the bank debt following the NCLAT's directives.

According to Arora, the construction projects have resumed after being put on hold following the previous NCLT Order.

The company is prioritising flats that can be supplied in the next three months, and as of right now, 1,156 labourers are working on all 16 projects.

Before this, the NCLT ordered the business and all of its projects to begin the CIRP in response to a petition filed by the Union Bank of India.

Arora claimed that the company appealed the orders before NCLAT with a Resolution-cum-Settlement Plan to be granted permission to finish the building since they were upset by the decisions and to address the concerns of the property buyers.

Image Source

Also read: Macrotech to develop its first housing project in Bengaluru

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..