Supertech Group Noida Office Sealed Over Dues: Administration Takes Action

The Gautam Buddh Nagar district administration has taken action against real estate major Supertech Group by sealing their office in Noida over dues. The action was initiated to recover outstanding dues from Supertech Township, a subsidiary of Supertech Group, based on recovery certificates issued by the UP Real Estate Regulatory Authority (RERA). However, Supertech Group has described the administration's action as "illegal", stating that the office in question belongs to Supertech Limited and not Supertech Township.

Confirmation of Office Sealing

Additional District Magistrate (Finance/Revenue) Vandita Shrivastav has confirmed the sealing of Supertech Group's office in Noida. The process to seal the office started under the supervision of the tehsildar, Dadri, on Tuesday afternoon.

Supertech Group's Response

Supertech Group has condemned the district administration's action as illegal and has expressed concern about the hardship it has caused to homebuyers who need to visit their offices for various needs. A company executive has stated that the action is illegal because the company is currently under the Corporate Insolvency Process initiated by the National Company Law Tribunal (NCLT). The executive further explained that, as per the moratorium clause of the Insolvency and Bankruptcy Code (IBC), no dues can be coercively recovered by any authority until the resolution process is over. The executive also claimed that the sealing of the offices, including that of the Interim Resolution Personnel appointed by the NCLT, would amount to contempt of court.

Previous Sealing of Supertech Builder's Office

Last month, the authorities had sealed Supertech builder's office located in Noida's Sector 96 for failing to pay dues worth crores. The office was sealed on the 21st, 22nd, 23rd, 24th, and 25th floors of the Supertech project. In response, the Interim Resolution Personnel (IRP) has written to the district administration requesting the premises to be de-sealed immediately. The IRP is also planning to take up the matter with the NCLT or the Supreme Court.

Demolition of Twin Towers in August 2021

In August last year, the twin towers of Supertech Group were demolished after a directive from the Supreme Court. The court had ordered the illegal structures to be razed to the ground.

Supertech Group Claims Illegal Action by District Administration

Supertech Group has strongly opposed the district administration's action of sealing their office in Noida, claiming it to be illegal. The company argues that the office in question belongs to Supertech Limited and not Supertech Township, which is the entity that the dues are being recovered from. Furthermore, Supertech Group points out that they are currently under the Corporate Insolvency Process initiated by the NCLT, and as per the moratorium clause of the IBC, no dues can be coercively recovered by any authority until the resolution process is over. Supertech Group also alleges that the sealing of offices, including that of the IRP appointed by the NCLT, would amount to contempt of court.

Supertech Group Condemns the Impact on Homebuyers

Supertech Group has expressed concern about the impact of the office sealing on homebuyers. The company claims that the illegal action by the district administration has caused tremendous hardship to homebuyers who need to visit the offices for various needs. The sealing of the office has disrupted normal business operations and inconvenienced home buyers.

The sealing of Supertech Group's Noida office by the district administration over pending dues has escalated into a legal dispute, with the real estate group terming the action as "illegal" and in violation of the Corporate Insolvency Process initiated by the NCLT. The Supertech Group has condemned the sealing of their offices, citing hardship faced by homebuyers and the contempt of court as per their claims. The matter is expected to be resolved through legal channels, with the Interim Resolution Personnel of the Supertech Group planning to approach the NCLT or the Supreme Court. This development has further impacted the reputation and operations of the real estate major, adding to the challenges they have been facing in recent times.

Note: The information provided in this article about Uttar Pradesh Real Estate Regulatory Authority is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances.

By subscribing to AryaBot, you can receive updates on all RERA-approved projects in your desired area directly on your WhatsApp. AryaBot offers a free list of new RERA-approved real estate developments, so you can stay up-to-date on the latest developments in the area.

Know more about AryaBot at ReunionHQ