Supreme Court proposes independent receiver for 16 stalled Supertech projects

The Supreme Court on 27 October 2026 proposed appointing an independent court receiver to oversee the completion of 16 stalled housing projects of Supertech Limited. The projects involve nearly 50,000 housing units across Uttar Pradesh, Haryana, Uttarakhand and Karnataka. A bench headed by Chief Justice of India Surya Kant, with Justices Joymalya Bagchi and V Mohana, questioned the progress made under the current arrangement. The court has not yet decided on the receiver.

Why the bench questioned the current arrangement

The National Company Law Appellate Tribunal (NCLAT) appointed NBCC India Ltd as project management consultant (PMC) for the projects in December 2024. Its order dated 12 December 2024 directed NBCC to take over the projects, begin work allocation by 31 March 2025 and start construction by 1 May 2025. The bench said the arrangement had not delivered the expected progress.

Senior advocate Menaka Guruswamy, appearing for the homebuyers, told the court that more than ₹30 crore had been spent on hiring and project management since December 2024, although tenders had not been issued for the projects. The bench said it had realised nothing was happening at NBCC. Attorney General R Venkataramani, appearing for NBCC, told the court that a tender had been issued for one project and that tenders for the remaining projects were being processed. The court did not record a number of tenders in its proceedings.

The homebuyers' counsel also told the court that the oversight committee had rejected a construction firm's proposal to complete the projects. A former Supertech director had approached the committee with a financier willing to provide funds, but that proposal was also rejected, over concerns about high interest rates. The committee has not publicly given reasons beyond those concerns.

What a receiver would change

The court said it was considering replacing the existing oversight committee with an independent receiver, on the model used in the Amrapali and Unitech cases. Under this model, NBCC could continue as PMC or be replaced by another agency, depending on the court's assessment. The bench asked the Attorney General to suggest suitable candidates for the role.

The projects are spread across six developments in Greater Noida, four in Noida, two each in Gurugram and Meerut, and one each in Uttarakhand and Bengaluru. The court has not published a project-by-project unit count in its proceedings, and the figures reported elsewhere differ. Phase 1 priority projects named in the record include Eco-Village-2, Romano, Capetown, Czar Suites, Eco-Village-3, Sports Village and Eco-Citi.

Supertech has been under insolvency proceedings. The National Company Law Tribunal's Delhi bench admitted a petition filed by Union Bank of India for non-payment of dues, which were cited at ₹431 crore. Hitesh Goyal has been appointed as the interim resolution professional overseeing the insolvency process. The Supreme Court had also ordered a CBI preliminary inquiry on 29 April 2025 into links between builders and banks in several cities, and Supertech is among the companies named for that inquiry.

What buyers and developers should watch

• Stakeholder proposals are due before the next hearing on 16 November 2026.
• The court's decision on the receiver is pending and will follow its assessment after that hearing.
• Construction across the 16 projects has been targeted to begin from 16 January 2027, according to the Apex Court committee overseeing implementation.
• Other steps still pending include funding arrangements, verification of unsold inventory and a techno-economic viability assessment.

In related transfer petitions, the court declined to consolidate the cases. It said parties and High Courts could await a ruling in the lead case or approach the court later. For homebuyers in these projects, the immediate step is the 16 November hearing, where the court will decide whether to appoint a receiver and, if so, who it will be.