Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 18 September 2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) heard multiple interlocutory applications (I.A. Nos. 631, 4989 of 2024, 5878 of 2025, and 17 applications from 2026) in Company Appeal (AT) (Insolvency) No. 406 of 2022. The matter involves Ram Kishor Arora, Suspended Director of Supertech Ltd., as the applicant versus Union Bank of India & Others as respondents. The proceedings concern the corporate insolvency resolution process of Supertech Ltd.

The Tribunal noted that despite previous directions, an Interim Resolution Professional (IRP) has still not been appointed. The IRP is intended to serve as the Secretary of the Apex Court Committee and Chairman of Project-Wise Court Committee. The NCLT has dealt with an application for IRP appointment and directed the Insolvency and Bankruptcy Board of India (IBBI) to suggest names, with the process to be completed within one week from 18 September 2026.

The Tribunal reviewed compliance with paragraph 85(1) of its order dated 06 May 2026, which set specific timelines for NBCC (India) Limited to commence work on Supertech projects. Condition-I was satisfied on 12 December 2024, but Conditions-II, III, V, and VI were to be complied with on or before 31 July 2026. Condition-IV required NBCC to process the award of work before 31 July 2026 and complete the contract award within one month, with construction commencement scheduled for 01 October 2026.

The Status Report dated 10 September 2026 from the Apex Court Committee indicated that NBCC was facing difficulties in completing Conditions-II, III, IV, V, and VI, but did not provide prospective completion dates for these conditions. The Apex Court Committee scheduled a meeting for 20 September 2026 where NBCC representatives will participate to establish fixed timelines for compliance with the outstanding conditions and determine a new date for construction initiation.

The Status Report also mentioned that certain documents required by NBCC were never made available by the suspended management of Supertech Ltd. The Tribunal directed that a list of these documents be provided to the court and to counsel for the suspended management.

In I.A. No. 5437 of 2026, filed by New Green Welfare Association (Apartment Owners' Association of Supertech Araville, Sector-79, Gurugram), concerns were raised about M/s YG Estates Facilities Management Pvt. Ltd., the maintenance agency for the project. The agency issued a communication dated 27 May 2026 proposing to discontinue maintenance operations and shift all liabilities to residents effective 01 June 2026. The applicant sought directions for handover of maintenance to the apartment owners' association under IRP supervision, with requirements for account rendering and proper handover by the outgoing agency.

Final Outcome

The matter was adjourned to 25 September 2026 for further hearing. The Tribunal directed that I.A. No. 5437 of 2026 be treated as a representation before the Apex Court Committee to be dealt with as per law. I.A. Nos. 631 and 4989 of 2024 were listed for hearing on 07 October 2026.

Topics: Corporate Insolvency, Real Estate Construction, Regulatory Compliance