(12/30)
…- who were in the last 6 months bonded much more not only in their common pain but also in a Common IA representing 26,500 homebuyers across several projects of Supertech Ltd. cutting the artificial walls and boundaries between them. 💪
(10/30)
Of course a lot more ‘Collusive IAs’ were filed during the entire case - at least 3 were even withdrawn after they were exposed 🤭
All this only grossly wasted precious time of the court and certainly of the homebuyers. 😒
This was until..
..NBCC enter the picture.
(5/30)
6) Siphoning off of funds to promoter owned dummy/shell companies (~10,000 Cr of unexplained/missing cash as per the IRP’s data) 😡
7) Significant ownership of related parties of promoters in inventories across projects (pointing to benami/illicit transfers) ❌
(4/30)
3) problems with the maintenance agency - YG Estates (also a sister concern of Supertech) for units that were delivered 😞
4) incomplete infrastructure/amenities, no OC/CC/Registry - bijli/pani/CAM issues 😢
5) Cross-utilization of project funds (RERA violations)👎
(3/30)
/compared to the time of admission into insolvency. All projects suffered together - whether EV-II or non EV-II.
The scale of the case was/is obviously quite complex
1) 34,500 homebuyers
2)13,500 unconstructed units yet to be delivered
(2/30)
Beginning of the appeal, EV-II project was carved out as insolvent by NCLAT to great disbenefit of EV-II residents since even after 28 CoC meetings they painfully stood at the same place as did the other 17 projects - without any progress or significant development/
“Supertech/RK Arora vs Union Bank of India”
…A thread…
(1/30) After hearing arguments for over 2.5 years and from all parties, NCLAT bench of H’ble Ashok Bhushan ji reserved judgement in RK Arora/Supertech vs. Union Bank of India on 2nd Dec 2024!
🏦 Supertech is the most corrupt builder, with >10,000 Cr of financial embezzlement/unexplained cash flows - Forensic Audit/SFIO must be initiated against it by the government/administration asap!
🏗️ It's time for #NBCC to step in and complete our homes under a 'homebuyer-friendly' plan ! Let's remove Supertech's interference and bring justice to those who’ve waited too long.
🌟 On this special day honoring #GandhiJi, #ShastriJi, we appeal to our Honourable PM @narendramodi to end the suffering of 30,000+ Supertech homebuyers. For 14 years, we’ve faced broken promises and empty dreams.
If you are an allottee of Supertech, pl follow us for important communications regarding your home/unit/project.
We are suffering allottee like you are and are trying to get justice for Supertech allottees & homebuyers who are waiting for their dream homes for more than a decade!
@narendramodi@arjunrammeghwal@nsitharaman@RBI@NhbIndia Builders stopped paying pre-emi and bank started present our cheques which should be use after the possession.they filled themselves suitable amount and presented in the banks,middle class people don't have 8-10 lakhs in their accounts,it is builder's liability to pay pre-emi🙏
@narendramodi@arjunrammeghwal@nsitharaman@RBI@NhbIndia Hon'ble Modi ji, NBFC like Indiabulls violated the guidelines of NHB & RBI.
IB was getting a huge amount as a intrest in advance, which company gives the three year intrest in advance.SuperTech knew that this is profile funding,have to pay for three years later on who will pay