Supreme Court Invokes Article 142 to Complete Supertech Supernova Project

Описание: The Supreme Court of India has stepped in to ensure completion of the stalled Supertech Supernova real estate project in Noida by invoking Article 142 of the Constitution.
A Bench led by CJI Surya Kant has ordered that the project be taken over by a Court-appointed empowered Committee, replacing the management of Supertech Realtors Pvt Ltd, which is facing insolvency proceedings.
The Committee will function as the Board of Directors, appoint a new developer, manage escrow funds, and ensure that buyer payments are used only for construction. Authorities including the NOIDA Authority have been directed to fast-track approvals without insisting on past dues, offering major relief to affected homebuyers.
Case Title: Ram Kishor Arora Vs Bank of Maharashtra
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