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Other Developments
A curated list of other prominent stories from this day.
11:49 PMEconomic Times Realty
Construction of 16 stalled Supertech projects lagging, NCLAT seeks status report from NBCC
Summary
The National Company Law Appellate Tribunal has asked NBCC and the Apex Court Committee to submit progress reports within two weeks on 16 stalled Supertech projects. NBCC was appointed to complete the developments, but construction has remained stalled for nearly 21 months, increasing concerns among homebuyers.
The tribunal's intervention confirms that the execution plan has not delivered timely progress across the
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Why it matters
The delay keeps thousands of buyers locked in unfinished projects and tests whether state-backed intervention can resolve major developer failures.
Orris Infrastructure, Godrej Properties settle Godrej Air dispute; Bombay HC orders Amit Gupta’s release
Summary
Orris Infrastructure and Godrej Properties have settled their dispute over the Godrej Air project in Gurugram. The Bombay High Court ordered the unconditional release of Orris managing director Amit Gupta but deferred a decision on the petition seeking to quash the FIR.
The settlement removes the immediate custody issue for Orris’s managing director, but it does not
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Why it matters
The agreement lowers the immediate conflict between the developers, but the project’s full legal closure still depends on the FIR proceedings.