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Supreme Court Clears NBCC Takeover of 16 Stalled Supertech Projects

The Supreme Court has approved the state-owned NBCC to take over and complete 16 long-stalled Supertech housing projects in Delhi-NCR. The court upheld a 2024 NCLAT order, directing NBCC to finish construction within a fixed timeline of up to three years. This decision provides major relief to approximately 50,000 homebuyers who have been awaiting possession for over 15 years. The court cited Supertech's failure to complete the projects and allegations of fund diversion as reasons for the necessary transfer.

Key Points: SC Approves NBCC Takeover of Stalled Supertech Housing Projects

  • Relief for 50,000+ homebuyers
  • NBCC to complete 16 stalled projects
  • Supreme Court upholds NCLAT order
  • Projects to be finished in 3 years
  • Court cites Supertech fund diversion
2 min read

SC clears NBCC takeover of 16 stalled Supertech housing projects, grants relief to over 50,000 homebuyers

Supreme Court directs NBCC to complete 16 stalled Supertech housing projects, granting relief to over 50,000 homebuyers after 15-year wait.

"We find that the order... bringing the NBCC on record... is neither unfair nor contrary to the provisions of the IBC. - Supreme Court Bench"

New Delhi, February 5

The Supreme Court has approved the completion of 16 stalled housing projects in the Delhi-NCR region that were originally to be developed by Supertech between 2010 and 2012, and directed that the projects be handed over to the state-owned NBCC.

The Court has asked NBCC to complete the construction within a fixed timeline of up to three years, providing major relief to nearly 50,000-51,000 homebuyers who have been waiting for possession for over 15 years.

Upholding the December 2024, decision of the National Company Law Appellate Tribunal (NCLAT), a bench led by the Chief Justice of India (CJI) observed, "We find that the order passed by the NCLAT on December 12, 2024, in bringing the NBCC on record for the completion of the pending housing projects is neither unfair nor contrary to the provisions of the Insolvency and Bankruptcy Code (IBC)."

The Court noted that Supertech had failed to complete the projects and that there were allegations of fund diversion by the company. In these circumstances, it held that transferring the projects to NBCC was necessary to ensure timely completion and to protect the interests of homebuyers.

The Court also made it clear that its order is final and binding. Thus, it directed that no court or forum shall interfere with the implementation of its directions for completion of the projects.

On December 12, 2024, the NCLAT appointed NBCC as the project management consultant to complete the 16 pending Supertech projects at an estimated cost of around ₹9,500 crore.

However, on February 21, 2025, the Supreme Court stayed the NCLAT order. With the present ruling, the Court has now cleared the way for NBCC to take over and complete the stalled housing projects.

- ANI

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Reader Comments

S
Sarah B
This is a landmark judgment for homebuyers' rights in India. The court sending a strong message that fund diversion by builders won't be tolerated. Hope NBCC delivers quality construction.
A
Arjun K
Relief for 50,000 families! But let's be honest, 15 years is a lifetime of waiting. The system failed these people for too long. While NBCC takeover is good, we need stronger laws to prevent such mess in the first place.
P
Priya S
My uncle is one of the affected buyers. The mental and financial stress this caused is unimaginable. Paying both rent and EMI for years. Hope NBCC works with speed and transparency. Jai Hind!
V
Vikram M
Good step. But a respectful criticism: Why did it take the Supreme Court so long? The stay in Feb 2025 caused more anxiety. The judicial process for homebuyers needs to be much faster. Still, better late than never.
K
Karthik V
NBCC is a government company, so accountability should be higher. Buyers can finally breathe. This sets a precedent for other stalled projects across NCR. Time to finish the half-built towers we see everywhere.

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