Business Standard

Supertech Group's Noida office sealed over unpaid dues: Officials

The Gautam Buddh Nagar district administration has sealed the office of real estate major Supertech Group in Noida over dues, officials said on Wednesday.

Supertech

Press Trust of India Noida

Listen to This Article

The Gautam Buddh Nagar district administration has sealed the office of real estate major Supertech Group in Noida over dues, officials said on Wednesday.
The builder group has described the administration's action as illegal, saying the office belongs to Supertech Limited while the recovery has to be made from Supertech Township.
The district administration had recently initiated action to recover dues from the real estate group's Supertech Township entity. The action was initiated over recovery certificates issued from the UP Real Estate Regulatory Authority (RERA).
"Yes, the office has been sealed," Additional District Magistrate (Finance/Revenue) Vandita Shrivastav told PTI, confirming the development.
According to officials, the process to seal the office had started on Tuesday afternoon under supervision of the tehsildar, Dadri.
Meanwhile, the Supertech Group condemned the action of the district administration.
"The illegal action has caused tremendous hardship to the home buyers who need to visit these offices for their various needs," a company executive said.
"The action of the district administration in sealing the offices is illegal as the Company is under Corporate Insolvency Process initiated by the NCLT. In view of the moratorium clause of the IBC, no dues can be coercively recovered by any authority till the resolution process is over," the executive said.
"The action of the district administration in sealing the offices, including that of the Interim Resolution Personnel, appointed by the NCLT, would amount to contempt of court as well," the executive claimed.
The IRP has written to the district administration to de-seal the premises immediately, and is also planning to take up the matter with the National Company Law Tribunal (NCLT) or the Supreme Court, the executive added.
In August last year, the twin towers of the Supertech Group were demolished after a Supreme Court direction in August 2021 to raze the illegally built structures to the ground. The Supreme Court had said the towers were built in violation of building norms.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Supertech

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 19 2023 | 10:36 PM IST

Explore News