This decision follows persistent demands from homebuyers who argued that NBCC's intervention was necessary after Supertech failed to deliver on its commitments.
Insolvency appellate tribunal NCLAT, in its order, highlighted that NBCC must go beyond its typical role as a project management consultant and ensure the completion of all projects.
"Looking to the special features of the project and the plight of homebuyers who have been waiting for their units for the last several years, NBCC shall not treat its obligations only as a project management consultant and shall go an extra mile to ensure that the project is completed and all unnecessary and extra cost be avoided due to limited resources of fund for completion of the project. NBCC has to play role not only project management consultant, but an entity who is entrusted to monitor completion of the entire project," said the order delivered by an NCLAT bench led by chairman Justice Ashok Bhushan and member technical Barun Mitra.
The case dates back to March 2022, when the corporate insolvency resolution process for Supertech was initiated by Union Bank of India (UBI).
Denne historien er fra December 14, 2024-utgaven av Hindustan Times Jaipur.
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Denne historien er fra December 14, 2024-utgaven av Hindustan Times Jaipur.
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Shah slams Cong in Constitution debate
Asserting that India's democracy is deep-rooted, Union home minister Amit Shah said on Tuesday that the people of the country through the Constitution have given an appropriate response to those who used to say that India will not become powerful economically.
'One election' bill tabled in LS, to be sent to JPC
NEW DELHI: The Constitution (One Hundred and Twenty-Ninth Amendment) Bill, 2024, and ‘The Union Territories Laws (Amendment) Bill, 2024’ was formally introduced in the Lok Sabha after a division of votes.
When Chay flew to Mumbai
Following their wedding on December 4, actor-couple Naga Chaitanya and Sobhita Dhulipala have opened up about their relationship for the first time.
Zakir Hussain matlab tabla: Pandit Hariprasad Chaurasia on Ustad's death
Pandit Hariprasad Chaurasia, the legendary classical flautist and music director, is unable to believe that Ustad Zakir Hussain has passed away at \"such a young age\", he tells HT City.
Chelsea's Mudryk fails drugs test: Premier League club
LONDON: Chelsea forward Mykhailo Mudryk has failed a doping test, the Premier League club said on Tuesday, as reports stated the Ukraine international has been provisionally suspended.
New Zealand crush England to send Southee out on high
HAMILTON: New Zealand tore through England's batting Tuesday to crush the visitors by 423 runs in the third Test and send Tim Southee into retirement on a triumphant note.
Rahul, Jadeja, tailenders help India avoid follow-on at Gabba
BRISBANE: KL Rahul and Ravindra Jadeja were determination personified as their fighting fifties helped India avoid the follow-on on the fourth day of the weather-hit third Test against a menacing Australia that seems meandering towards a draw.
INJURED JOSH HAZLEWOOD TO MISS REST OF INDIA SERIES
Australia pace spearhead Josh Hazlewood is likely to miss the rest of the Test series against India after injuring his right calf during his warm-up before play in Brisbane on Tuesday.
Jaitley beats Azad to be re-elected as DDCA president
NEW DELHI: Incumbent Rohan Jaitley comfortably defeated former India cricketer and Lok Sabha MP Kirti Azad to be elected as the President of the Delhi and Districts Cricket Association (DDCA) for a third successive term.
Security concerns hinder AI adoption in India: Report
NEW DELHI: As many as 92% of Indian executives view security vulnerabilities as the foremost challenge to responsible artificial intelligence (AI) adoption, highlighting a pressing need for robust governance frameworks to foster trust and mitigate risks in an increasingly AI-driven landscape, according to a recent report by Deloitte.
