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Gautam Buddh Nagar District Administration Seals Supertech Groups Noida Office Over Pending Dues

By Rishabh Chamoli | 2023-05-02

Supertech Group claims that this action is illegal and that the office belongs to Supertech Limited, and any recovery has to be made from Supertech Township.

The office of Supertech Group, a major real estate developer located in Noida, was sealed by the Gautam Buddh Nagar district administration due to pending dues, as confirmed by officials on Wednesday. The administration had taken action to recover these dues from Supertech Township, a company subsidiary, based on recovery certificates issued by the UP Real Estate Regulatory Authority (RERA).

The process to seal the office started on Tuesday afternoon under the supervision of the tehsildar, Dadri. However, Supertech Group claims that this action is illegal and that the office belongs to Supertech Limited, and any recovery has to be made from Supertech Township.

A Supertech Group executive condemned the action taken by the district administration, stating that it has caused significant hardship to the homebuyers who visit these offices for various purposes. The executive argued that the company is currently under the Corporate Insolvency Process initiated by the NCLT and, according to the moratorium clause of the IBC, no dues can be coercively recovered by any authority until the resolution process is complete. The executive further claimed that the district administrations action would amount to contempt of court, as the company is currently under the supervision of the Interim Resolution Personnel appointed by the NCLT.

The IRP has requested that the district administration immediately de seal the premises and is planning to take the matter up with the National Company Law Tribunal (NCLT) or the Supreme Court. In August 2021, the Supertech Groups twin towers were demolished following a Supreme Court direction to raze the illegally built structures. The Supreme Court found that the towers were constructed in violation of building norms.