NOIDA: The office of real estate giant Supertech Group in Noida has been sealed by the Gautam Buddh Nagar district administration on Wednesday over unpaid dues.
The action was initiated to recover the dues from the company’s Supertech Township entity, following the issuance of recovery certificates by the UP Real Estate Regulatory Authority (RERA). However, the Supertech Group has called the administration’s action “illegal” and said that the recovery has to be made from Supertech Township, not from Supertech Limited, which owns the sealed office.
The Additional District Magistrate (Finance/Revenue), Vandita Shrivastav, confirmed the development and said that the process of sealing the office had started on Tuesday afternoon under the supervision of the tehsildar, Dadri.
The Supertech Group condemned the district administration’s action, saying it has caused significant hardship to home buyers who need to visit these offices for their various needs. The company has claimed that the action is illegal, as it is currently under Corporate Insolvency Process initiated by the NCLT. As per the moratorium clause of the IBC, no dues can be coercively recovered by any authority until the resolution process is over.
The Interim Resolution Personnel (IRP) appointed by the NCLT has written to the district administration to de-seal the premises immediately and is also planning to take up the matter with the National Company Law Tribunal (NCLT) or the Supreme Court.
In August last year, the Supreme Court had ordered the demolition of the twin towers of the Supertech Group, which were built in violation of building norms.
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