New Delhi: The Supreme Court on Monday, October 26, agreed to hear on Tuesday an application filed by the Supertech Homebuyers Association in the matter arising out of the insolvency of real estate developer Supertech Ltd, after senior advocate Menaka Guruswamy mentioned it as the plea of bona fide homebuyers, LawChakra reported.

Source: LawChakra

Guruswamy told the Bench led by Chief Justice of India Surya Kant that the applicants are bona fide homebuyers who wished to be heard, and that the matter is listed on Tuesday. The CJI observed that the court already has several sets of homebuyers before it.

Source: LawChakra

"We have many groups of homebuyers before us. Some are also here on behalf of promoters. The standard of lawyers they engage says a lot about their intentions," CJI Surya Kant said. Guruswamy responded that these were bona fide homebuyers. The CJI then said, "Okay, tomorrow." LawChakra noted the remark was a general observation on the groups appearing in the matter; the court made no finding about the association or any other party.

Source: LawChakra

16Stalled Supertech projects NBCC was directed to complete
49,748Homes across the 16 projects in Uttar Pradesh, Uttarakhand, Haryana and Karnataka
27,000Homebuyers awaiting possession, approximately

Insolvency proceedings against Supertech Ltd began on March 20, 2021, when Union Bank of India's petition under Section 7 of the Insolvency and Bankruptcy Code, claiming more than Rs 431 crore (yaani about Rs 4.31 billion) as of January 31, 2021, was admitted. On December 12, 2024, the NCLAT directed state-owned NBCC to complete the 16 stalled projects, and on February 5, 2026, the Supreme Court upheld that order under Article 142 and barred tribunals and High Courts from passing orders that would stall construction.

Source: LawChakra

NBCC has separately challenged the NCLAT's May 22, 2026 refusal to exempt it from RERA compliance for completing the projects, and the Supreme Court had earlier issued notice on that plea, seeking responses from the Centre and former Supertech director Ram Kishor Arora, PTI reported via RealtyPlus. Since the 2018 IBC amendment, homebuyers are treated as financial creditors in insolvency, which is why several associations have sought to be heard separately.

Source: PTI via RealtyPlus