New Delhi, Feb. 5 -- Giving relief to more than 51,000 homebuyers, the Supreme Court on Thursday upheld the order of the National Company Law Appellate Tribunal (NCLAT) directing state-owned National Buildings Construction Corporation (NBCC) to expeditiously complete 16 stalled housing projects of debt-ridden real estate developer Supertech Limited.
Observing that the protection of homebuyers was paramount, the Apex Court invoked its extraordinary powers under Article 142 of the Constitution to issue comprehensive directions.
A Bench comprising Chief Justice of India Justice Surya Kant and Justice Joymalya Bagchi affirmed the NCLAT's December 12, 2024, order, holding that bringing NBCC on record for completion of the projects was neither ...