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

11 May 2026

WorkEZ Expands South India Portfolio to 1.7 Mn Sq Ft

Work Easy Space Solutions (WorkEZ) has expanded its managed workspace portfolio to approximately 1.7 million sq. ft. across 12 operational buildings and two upcoming developments, strengthening its footprint across South India.The expansion includes the addition of 65,000 sq. ft. at Phoenix One National Park in Chennai and the company’s entry into Kochi through a partnership with Lulu Developers, adding another 70,000 sq. ft.WorkEZ has also signed a 0.4 million sq. ft. development in Coimbatore with Veeras Infra following the successful leasing of 0.1 million sq. ft. in the first phase. The ..

Stans Arize Allots 111 Homes Within a Week of Launch

The Mandate House has recorded sales of 111 residential units worth over Rs 1 billion within one week of the launch of Stans Arize, a residential development by Stans Buildtech in Jogeshwari (East), Mumbai.The Mandate House, appointed as the exclusive sales partner for the project, managed the end-to-end sales and marketing strategy for the launch.Located at Janata Colony, Gandhi Nagar, Stans Arize is a 23-storey residential tower comprising one and two-bedroom apartments. The project includes amenities such as a swimming pool, fitness centre, jogging track, yoga and meditation area, moss gard..

RAHSTA 2026 to Host Certified Highway Construction Masterclass

RAHSTA 2026 will organise the Certified Highway Construction Masterclass, a specialised two-day corporate training programme for highway construction professionals, on July 8–9, 2026, at the Jio World Convention Centre.The Masterclass will be delivered by RASTA – Center for Road Technology and supported by Construction World and FIRST Construction Council.Designed as an industry-led refresher programme, the Masterclass aims to help engineering and project teams stay updated with the latest advancements in highway construction, pavement technologies, sustainable materials, intelligent compa..