SC to hear NBCC plea for RERA relief in 16 stalled Supertech projects: Case explained
The Supreme Court of India is set to hear a plea from NBCC regarding its obligation to follow RERA regulations while completing 16 stalled Supertech housing projects. The NCLAT previously denied NBCC's request for an exemption from these statutory requirements.
Why it matters
This case highlights the legal complexities involved in state-led efforts to resolve stalled real estate projects and protect the interests of thousands of affected homebuyers.
NEW DELHI: The Supreme Court this week agreed to hear a plea filed by state-owned NBCC Ltd challenging an NCLAT order that refused to exempt the company from certain statutory requirements under the Real Estate (Regulation and Development) Act, 2016 (RERA) while completing 16 stalled housing projects of debt-ridden Supertech Ltd.A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and V Mohana issued notice on NBCC’s plea and sought responses from the Centre and Ram Kishor Arora, former director of Supertech. The matter will be heard on September 24 along with other pending matters.The plea concerns NBCC’s request for relief from RERA provisions as it takes over the completion of Supertech’s stalled residential projects.
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