Supertech Submits Resolution Plan to Clear Rs.900 Crore Dues to Greater Noida Authority


Supertech Ltd. has filed a resolution plan with the Greater Noida Authority aimed at clearing dues amounting to ?900 crore. This move is part of the real estate developer's efforts to restructure its finances and resolve outstanding liabilities with local authorities.

The resolution plan outlines Supertech's strategy to settle its financial obligations systematically, ensuring that payments are made in a sustainable manner. The ?900 crore dues pertain to various land and infrastructure-related charges owed to the Greater Noida Authority.

By submitting this plan, Supertech aims to streamline its financial position and regain stability in its operations. The resolution is expected to facilitate ongoing projects and support the company's efforts to meet its commitments to homebuyers and other stakeholders.

The filing of the resolution plan underscores Supertech's commitment to resolving financial challenges through structured negotiations and adherence to regulatory requirements. It reflects the company's proactive approach to address issues and chart a sustainable path forward in the real estate sector.

The resolution plan submission is a significant development in Supertech's journey towards financial recovery and operational continuity. It signals a positive step towards addressing past dues and reinforces confidence among investors, homebuyers, and the broader real estate community in Supertech's ability to navigate challenges effectively.

In conclusion, Supertech's submission of the resolution plan to clear ?900 crore dues to the Greater Noida Authority marks a pivotal moment in the company's efforts to stabilize its financial position and uphold its commitments in the real estate market. The resolution plan is expected to pave the way for constructive dialogue and eventual resolution of outstanding liabilities, supporting Supertech's long-term growth prospects.

Related Stories

NCLAT Assigns NBCC as Project Manager for 16 Supertech Projects

The NCLAT dismissed suggestions to allocate profitable projects to private developers and handed over all 16 projects to N..

Supertech opposes NBCC's plan to take over and finish 14,000 flats

NBCC agreed to the task and presented a plan to complete 17 projects within three years.

Supertech opposes NBCC’s takeover plan to complete 14,000 flats

NBCC became involved with Supertech projects.