New Delhi, May 1 -- The Supreme Court on Thursday said that immediate action must be taken against Supertech's subsidiary firm involved with the Supernova project in Noida after a court-appointed committee, based on an ongoing forensic audit, showed misappropriation of Rs.1,500 crore by way of backdated entries in real estate company's account books. "Immediate action should be taken. This has serious penal consequences," said a bench of Chief Justice of India (CJI) Surya Kant and justice Joymalya Bagchi. It was told about the financial irregularities in a sealed cover status report submitted by the amicus curiae Rajeev Jain representing the panel. The three-member committee - headed by justice (retd) MM Kumar, former chief justice of J&K H...