The Supreme Court on Wednesday restrained Supertech Realtors and its suspended director, Ram Kishore Arora, from creating any third-party rights in the ambitious Supernova project in Noida, a towering 80-floor mixed-use development that aspires to be the tallest building in the Delhi-NCR region.
A bench of Justices Surya Kant, Ujjal Bhuyan, and N Kotiswar Singh also impleaded the Noida Authority as a party to the case, noting that its involvement was crucial given its role in property registration and oversight.
The bench directed Arora and his associates not to alienate or transfer any interest in the project’s properties. The court further ordered Arora to cooperate fully with the Interim Resolution Professional (IRP) overseeing the insolvency process, providing complete records in digital form to both the IRP and the court-appointed amicus curiae, advocate Rajiv Jain.
“The appellant is directed to cooperate with the IRP and provide full assistance/records, as may be required,” the bench observed. The IRP has also been permitted to complete statutory requirements with prior notice to the amicus.
Senior advocates K Parmeshwar and Govind Jee, appearing for the Supernova Apartment Owners Association (SNAOA), highlighted that Supertech Realtors may be attempting to delineate parts of the project without transparency. They successfully urged the bench to include the Noida Authority as a respondent.
Another counsel for homebuyers, senior advocate Gaurav Bhatia, stressed that the Supernova project is already 70% complete and differs from stalled projects such as Amrapali or Unitech, where the court had monitored resolution mechanisms.
Justice Surya Kant, however, noted that the court had proposed involving a co-developer through a transparent process to infuse funds, adding that without such a mechanism, the project could have warranted a CBI probe.
In a 721-page report submitted last week, amicus Rajiv Jain recommended a court-monitored hybrid resolution mechanism—on the lines of Amrapali and Unitech—to ensure timely completion of the project. The report suggested that the process be supervised by former Supreme Court judge Navin Sinha, along with former J&K Chief Justice M M Kumar, and backed by a forensic audit of Supertech Realtors and its parent company Supertech Ltd.
“The evolved jurisprudence in the cases of Amrapali, JAL/YEIDA, and Supertech reveal a clear trajectory; when ordinary insolvency processes fail to protect homebuyers, the judiciary has not hesitated to innovate,” the report said.
Jain emphasized that the promoter should be displaced from control, limiting his role to technical cooperation only, and recommended appointment of a new board of directors and a Project Management Consultant, similar to NBCC in earlier cases.
Supertech Realtors, a wholly owned subsidiary of the debt-ridden Supertech Ltd, is developing Supernova, which includes residential, commercial, office, and service apartments, alongside shopping centres in Noida’s Sector 94.
The company is facing insolvency proceedings initiated on a petition by the Bank of Maharashtra. The National Company Law Tribunal (NCLT) had ordered initiation of Corporate Insolvency Resolution Process (CIRP) in June 2023, which was later upheld by the National Company Law Appellate Tribunal (NCLAT) on August 13, 2025. Arora has challenged the NCLAT’s order before the Supreme Court.
The apex court allowed Supertech Realtors and Arora to file their response to the amicus report and scheduled the next hearing for October 8, 2025.
