News: Supreme Court Clears NBCC to Finish 16 Supertech Projects-05-02-2026
Thousands of homebuyers who have waited over a decade for their flats got relief on February 5 when the Supreme Court upheld an NCLAT order directing state-owned NBCC to complete 16 housing projects of debt-laden Supertech without delay, PTI reported.
Chief Justice Surya Kant and Justice Joymalya Bagchi invoked the court’s extraordinary power under Article 142 of the Constitution, which allows any order needed to do "complete justice", to affirm the National Company Law Appellate Tribunal’s order of December 12, 2024. The bench said bringing in NBCC was neither unfair nor contrary to the Insolvency and Bankruptcy Code.
The court also barred all tribunals and high courts from passing orders that could stall NBCC’s construction work.
The CJI said the dues of Supertech’s financial and operational creditors can be addressed only after homes are delivered to buyers, and that creditors must accept whatever haircut the NCLT and NCLAT consider just and equitable. Homes must come with all promised facilities, including water, electricity and sewage connections, along with roads and parks nearby.
The bench noted that, according to many buyers, Supertech had booked about 51,000 homes for delivery in 2010-12.
While disposing of the pleas, the court allowed parties to return to it if any development obstructs the projects. On February 21, 2025, the top court had stayed an order appointing NBCC as project management consultant for the 16 projects, estimated to cost nearly Rs 9,500 crore.
