+
Work at 16 Stalled Supertech Projects to Begin on January 16, 2027
ECONOMY & POLICY

Work at 16 Stalled Supertech Projects to Begin on January 16, 2027

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.

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.

Related Stories

Gold Stories

Next Story
Building Material

Cement Prices Rise Rs. 7 per Bag in September; October Hikes Expected

Cement companies may seek to raise prices by Rs. 5 to Rs. 20 per bag across most markets in October, although the ability to sustain the increases will depend on demand recovery and dealer acceptance, according to a report by Centrum Broking. The outlook follows a pickup in pricing momentum during September after largely stable prices in July and August. The all-India average trade price increased by Rs. 7 per bag month-on-month to Rs. 356 in September. Centrum Broking’s channel checks indicated gains across both trade and non-trade segments, with non-trade prices recording sharper increases..

Next Story
Products

Minister G Kishan Reddy Says No Coal Shortage Despite Higher Power Demand

Union Coal and Mines Minister G Kishan Reddy said India was not facing a coal shortage despite higher demand from thermal power plants, monsoon-related disruptions in mining operations and lower hydropower generation. He said coal was being supplied to power stations through railway rakes and road transport. Reddy made the remarks on Monday on the sidelines of the Assocham-organised Angul Aluminium Roadshow in Kolkata. His comments came amid reports of alleged supply constraints at some power plants, although he said the temporary interruptions should not be interpreted as a broader shortage. ..

Next Story
Infrastructure Energy

Bondada Engineering Secures Rs. 1.47 bn in Multiple Orders

Bondada Engineering has secured multiple domestic orders with an aggregate value of Rs. 1.47 bn, the company disclosed in a filing with BSE on September 29, 2026. The orders cover telecom infrastructure, renewable energy and energy-efficient lighting solutions, and are inclusive of taxes. Bondada Green Engineering, a subsidiary of Bondada Engineering, received an order for the supply of 200 telecom towers under the BSNL 40GBT project in Gujarat. The award forms part of the company’s telecom infrastructure business and is linked to requirements in the state. Bondada Renewable Energy, another ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code