NCLT declares real estate developer Supertech insolvent, 25K home buyers likely to be affected

The National Company Law Tribunal (NCLT) has declared Noida-headquartered realty major Supertech Ltd as insolvent while admitting a plea filed by the Union Bank of India over non-payment of its dues. The NCLT order is likely to hit over 25,000 homebuyers who have booked their homes with the company for over several years.