The Supreme Court has asked the National Company Law Appellate Tribunal (NCLAT) to decide whether a court-appointed committee should monitor all 30 projects of the stressed real estate firm Supertech Limited or be limited to the 16 housing projects already handed over to NBCC (India) Ltd.
The direction follows the suspension of the interim resolution professional (IRP) appointed for the company over alleged misconduct.
A bench of Chief Justice of India Surya Kant and justice Joymalya Bagchi said: “We request NCLAT to consider whether or not the court-constituted committee be appointed for amalgamating and managing all 30 projects or such arrangement be restricted to 16 projects.”
The top court had earlier this year handed over 16 of the 30 Supertech housing projects to the central government’s construction arm NBCC (India) Ltd.
On April 10, the court-appointed amicus curiae informed the court about the two-year suspension of IRP Hitesh Goel by the Insolvency and Bankruptcy Board of India (IBBI) last month.
The court clarified that its April 10 order should not be considered as giving any opinion on merits and allowed NCLAT to take a decision after hearing all sides.
