Supreme Court Invokes Article 142 to Ensure Completion of Supertech Supernova Project

The Supreme Court invoked its extraordinary powers under Article 142 to ensure the completion of Supertech’s stalled Supernova project in Noida.

Citing prolonged delays and stakeholder hardship, the Court set aside the insolvency framework and constituted a three-member empowered committee to take over project management. 

It constituted a three-member empowered committee to take charge of the project, directed the appointment of a new developer, mandated escrow-based control of funds, and ordered a forensic audit of accounts.

The Court emphasised that project completion and protection of homebuyers must take priority over rigid insolvency procedures.

[Ram Kishor Arora v. Bank of Maharashtra]