'To Protect Buyers, Deliver Their Dream Homes': SC Asks NBCC To Take Over Stalled Supertech Projects

Last Updated:February 05, 2026, 20:05 IST

To ensure uninterrupted progress, the Supreme Court prohibited other legal bodies, including all high courts and tribunals, from issuing orders that might freeze the ongoing work

The Supreme Court directed the NBCC to undertake the stalled Supertech projects, previously estimated to cost approximately Rs 9,500 crore, with the support of an expert committee. (Image: PTI)

The Supreme Court on Thursday intervened to bring relief to thousands of Supertech homebuyers, issuing a landmark ruling for the state-owned National Buildings Construction Corporation to take over and finish 16 stalled projects under the real estate developer.

The court said this is to protect thousands who have waited over a decade for their Supertech housing units and to finally deliver their “dream homes" to them.

By invoking its extraordinary powers under Article 142 of the Constitution, the SC said the National Buildings Construction Corporation (NBCC) must take over. A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi used these plenary powers to uphold a December 2024 order by the National Company Law Appellate Tribunal (NCLAT).

The court said approximately 51,000 homes had been booked between 2010 and 2012, leaving families in limbo for years. To ensure progress remains uninterrupted, the bench has prohibited other legal bodies, including all high courts and tribunals, from issuing orders that might freeze the ongoing work. This is intended to allow the NBCC to complete the debt-ridden projects expeditiously and without further judicial interference.

The apex court said judicial priority is now focused entirely on the delivery of completed homes equipped with essential utilities, rather than the immediate demands of corporate creditors. Chief Justice Surya Kant made it clear that the interests and dues of financial and operational creditors will only be addressed after the delivery of fully-furnished houses to the buyers. These must have all the assured facilities, including water, electricity, sewage connections, roads, and parks.

As a result of this prioritisation, financial lenders are expected to accept reduced payments, or a “haircut", to facilitate the recovery process. The bench described these reduced payments as “just and equitable" and ruled that the NBCC’s takeover is not contrary to the Insolvency and Bankruptcy Code (IBC).

“We find that the order passed by the NCLAT on December 12, 2024, in bringing the NBCC on record for the completion of the pending housing projects is neither unfair nor contrary to the provisions of the Insolvency and Bankruptcy Code (IBC)," the bench ordered while taking recourse of Article 142, which grants the top court plenary power to pass any decree or order necessary for doing “complete justice" in any case.

The NBCC will now undertake the projects – previously estimated to cost approximately Rs 9,500 crore – with the support of an expert committee. While disposing of the pleas, the bench noted that parties may still approach the court should any new developments obstruct the ongoing construction.

On February 21, 2025, the court had stayed an order appointing the NBCC as the project management consultant to complete the 16 housing projects of Supertech at a cost of nearly Rs 9,500 crore.

(With PTI inputs)

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