Supertech insolvency: NCLAT raises concern over delay in appointing IRP
The National Company Law Appellate Tribunal (NCLAT) has directed NCLT and the Insolvency and Bankruptcy Board of India (IBBI) to suggest names within a week
Appellate Insolvency Tribunal NCLAT has raised concerns over construction major NBCC's delay in meeting deadlines set for resumption of work at Supertech Ltd's stalled housing projects.
Besides, a three-member bench has also pulled up the authorities over the delay in appointing an interim resolution professional (IRP) for the realty firm, which is currently going through the Corporate Insolvency Resolution Process (CIRP).
The National Company Law Appellate Tribunal (NCLAT) has directed NCLT and the Insolvency and Bankruptcy Board of India (IBBI) to suggest names within a week.
"We have been informed that an application for appointment of the IRP has been dealt with by the NCLT, and IBBI is directed to suggest the names. Let the said process be completed within a week from today," the NCLAT said on Friday.
The IRP, once named, is also required to head the Apex Court Committee overseeing the stalled Supertech projects and chair the Project-Wise Court Committee, the appellate tribunal noted.
The NCLAT, in its 5-page interim order, also noted slippages by state-run construction major NBCC in meeting deadlines set out in its earlier order dated May 6, 2026, for resumption of construction work at Supertech's projects.
"...the order dated June 6, 2026, certain timelines were given to the NBCC for start of the project, viz.
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