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Supertech to raise Rs 300 cr to expedite construction of ongoing projects

Thursday, 23 Jun 2022
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Supertech plans to raise around Rs 300 crore to expedite construction activities at its ongoing projects across the Delhi-NCR market. 
 
The company has resumed construction in full swing at all its projects after the orders of the National Company Law Appellate Tribunal (NCLAT) dated 10 June 2022, allowing the company to continue project execution at all projects and limiting the scope of corporate insolvency resolution process ordered by NCLT earlier. 
 
The company has in hand investment offers of approximately Rs 300 crore which would help them to augment construction and delivery. 
 
On 10 June 2022, the NCLAT had ordered starting of insolvency proceedings in only one of the housing projects of realty firm Supertech and not the entire company, and directed constitution of the Committee of Creditors (CoC) for the said project only. 
 
The bench limited the Corporate Insolvency Resolution Process (CIRP) to only Eco Village-II project located at Greater Noida (West).
 
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