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SC considers court-monitored process to finish Supernova project
The Supreme Court is considering a fresh, court-monitored process to help finish Supertech's massive Supernova project in Noida, which has been stuck due to insolvency.
The plan, recently proposed and inspired by earlier Amrapali and Unitech cases, includes the suggestion that retired SC judge Navin Sinha could head the process.
Proposal includes running a forensic audit of Supertech
The main goal is to finally complete the 80-floor mixed-use tower while making sure homebuyers aren't left hanging.
Advocate Rajiv Jain's proposal suggests forming a new board for better oversight and running a forensic audit of Supertech and its parent company.
Promoters would be limited to technical roles only, giving more control to independent experts.
The court will discuss next steps on September 17.