SC Ruling on Supertech Supernova Offers Hope to Buyers
NEW DELHI: The Supreme Court’s recent order to appoint a new developer for the Supertech Supernova project in Noida, which is currently undergoing insolvency proceedings, has sparked renewed hope for countless homebuyers awaiting progress on stalled housing projects. As the construction of several projects has come to a halt during the insolvency process, the Supreme Court has stepped in to protect homebuyers’ interests by appointing a three-member committee to select another builder for the Supernova project, putting all entities under the Insolvency and Bankruptcy Code aside. The committee is tasked with appointing a new developer by evaluating proposals based on…
