The Supreme Court on Monday directed the National Company Law Appellate Tribunal (NCLAT) to decide whether a court-appointed committee should oversee all 30 Supertech Limited projects or just the 16 handed to NBCC. The order follows the suspension of interim resolution professional (IRP) Hitesh Goel. The court referred the matter to NCLAT after hearing stakeholders.
A bench led by Chief Justice of India Surya Kant and Justice Joymalya Bagchi directed the National Company Law Appellate Tribunal (NCLAT) to decide if a court-constituted committee should manage all 30 Supertech Limited projects or be limited to the 16 already handed over to NBCC (India) Ltd.
The direction came after the two-year suspension of interim resolution professional (IRP) Hitesh Goel by the Insolvency and Bankruptcy Board of India, as informed by the court-appointed amicus curiae on April 10. The bench stated: “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.”
Financial creditors, land-owning authorities, and Supertech objected to extending oversight to all projects. Senior advocate Shyam Divan, for Supertech, said the company was not opposed to replacing the IRP but issues on other projects should go to NCLAT. ASG N Venkatraman, for NBCC, noted the matter is before NCLAT.
The court clarified its April 10 order expressed no view on merits and allowed NCLAT to hear all parties, including Noida, Greater Noida Industrial Development Authority, and Yamuna Expressway Industrial Development Authority. The amicus highlighted ₹9,000 crore in dues and stalled work. The CJI remarked: “Our order was to ensure a smooth and efficient administration. It is not to give an impression that something will be snatched away.”
