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Video Producer: Maaz Hasan
Video Editors: Mohd. Irshad Alam, Kriti Saxena
Cameraperson: Ribhu Chatterjee
Camera Assistant: Swagatam Roy
In July 2017, we booked a flat in Supertech Sports Village in Greater Noida. We were told that the flat would be completed by the end of 2019. However, construction didn't even start until the end of 2020.
While booking the flat, we were also informed that the property was approved by RERA (Real Estate Regulatory Authority) and that our money was safe. When our money was lost, they told us they would not return it.
Then, my husband asked for a solution. They told us that our flat can be shifted. I again paid 10% and got my flat shifted from Sports Village to Eco Village 2.
But till now, the builder has not provided me with accommodation nor paid the rent for the accommodation I found for ourselves.
The builder was declared bankrupt and insolvent by the National Company Law Tribunal (NCLT) in March 2020. A court-appointed IRP (Interim Relief Professional) now manages the company's operations.
Every month, the court offers a ray of hope, telling us that this is the last period of insolvency. But the resolution has yet to come, even in two years.
Throughout the whole process of Supertech's insolvency, homebuyers have been slaughtered like guinea pigs. Until today, there has been no resolution for the homebuyers of six towers: I1, I2, J1, J2, H4, and K1.
My husband died in 2021 due to COVID. I was in terrible shape and didn't know what to do. I am a homemaker and never worked.
On 3 May, it would be the third death anniversary of my husband. I have been under constant mental stress, and there is no relief from anywhere. I am not asking for charity. I am just asking for my rights.
The entire system is responsible for this situation. The current party has been in power for the last 10 years. They can't pass the buck to any other government. This government needs to take responsibility.
When RERA (Real Estate Regulatory Authority) came, homebuyers were assured of regulations. But builders are fearless of RERA. RERA has been used as an advertising tool to sell properties, and this was done to me.
In March 2022, NCLT (National Company Law Tribunal) declared Supertech bankrupt, and insolvency proceedings were ordered against the company over a petition filed by the Union Bank of India for non-payment of dues.
Supertech challenged the order at NCLAT (National Company Law Appellate Tribunal) and conveyed to both NCLAT and the Supreme Court that it had arranged priority funding of up to Rs 1,600 crore for the construction and completion of the projects.
In May 2023, the Supreme Court accepted the resolution plan that Supertech Limited submitted to the NCLAT.
The court appointed Mr Hitesh Goel as an Interim Resolution Professional (IRP) to oversee Supertech's projects. The Quint has contacted Mr Goel and Supertech Ltd regarding the ongoing issues. Their response is awaited.
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