By Admin 
Supertech limited: Noida’s well-known real estate company Supertech Limited and its promoters are caught in legal pits. They are accused of cheating 126 crore from IDBI Bank. Due to this, the Central Bureau of Investigation (CBI) has registered a case against them. This news increased the concerns of those people whose money is stuck in the projects of Supertech.
Noida Authority Board gave relief
Meanwhile, the Noida Authority Board has approved the real estate firm Apex Group to complete supertec four housing projects as co-decayers. This has brought relief to more than 4,000 home buyers. With this, now Apex Group has been allowed to resume work on The Romano in Sector 118, North Eye in Sector 74 and Eco City in Cape Town and Eco City in Sector 137.
Apex group proposes in front of Supreme Court
The Apex Group made a proposal before the Supreme Court in April this year, in which it had asked to start work on 16 incomplete projects of Supertech. Among them, more than 15,000 homebuilders are stranded. The company has also agreed to the five banks to pay an outstanding of Rs 678 crore and to pay the dues of about Rs 1,900 crore to Noida, Greater Noida and Yamuna Authority. In the initial phase, the company also set a target to complete the delivery of flats within two years with an investment of 500 crores.
These 16 projects have total 50,962 units, out of which 39,870 have already been sold. Of these, 24,871 flats have been handed over to buyers, while 14,999 have not yet got the position. An investment of Rs 1,700 crore is necessary to complete the work on these sold flats, while Rs 2,200 crore is to be received in lieu of these units.
The court’s decision is now waiting
Now Apex Group is waiting for the Supreme Court to get the green signal on its proposal. The Apex group will start work only after getting final approval from the Supreme Court. However, earlier in February, the court denied the appointment of NBCC as Project Management Consultant to complete 16 Stald Housing Projects. It remains to be seen what the Supreme Court’s decision comes regarding the proposal of Apex.
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CBI tightened up on Noida’s well-known builder Supertech, serious allegations of cheating 126 crore from IDBI Bank