Supertech seeks time, NCLAT stays formation of committee of creditors

[Bilgin]

Supertech seeks time, NCLAT stays formation of committee of creditors The Delhi bench of NCLT initiated insolvency proceedings against Supertech Ltd over a petition filed by the Union Bank of India for non-payment of dues worth around ₹432 crore .The default pertains to loan given by the UBI to Eco Village II project being developed at a cost of ₹1,106.45 crore