The Supreme Court of India is addressing contempt petitions arising from non-compliance with orders related to disbursement of funds to home buyers by Supertech Limited. The court is reviewing the progress of fund disbursement and addressing issues related to TDS deductions on interest payments. The case involves multiple contempt petitions and miscellaneous applications related to Civil Appeal No. 5041 of 2021.
The Supreme Court is hearing contempt petitions related to Civil Appeal No 5041 of 2021. Mr. Gaurav Agrawal, Amicus Curiae, presented a note indicating Rs 1,26,29,968 has been disbursed to 15 home buyers. The court is addressing the remaining amounts to be paid to these buyers. The court notes that interest payments are subject to TDS under the Income Tax Act 1961. The IRP of Supertech Limited is directed to deposit Rs 75,22,773 by 15 January 2024, from the 30% designated RERA accounts of Supertech Limited. The court defers hearing other claims and contempt petitions for eight weeks, pending efforts in NCLAT to find an investor for the corporate debtor's projects. The court also directs that the TDS amount shall be deducted and deposited by Supertech Limited with the
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The Supreme Court of India is addressing contempt petitions arising from non-compliance with orders related to disbursement of funds to home buyers by Supertech Limited. The court is reviewing the progress of fund disbursement and addressing issues related to TDS deductions on interest payments. The case involves multiple contempt petitions and miscellaneous applications related to Civil Appeal No. 5041 of 2021.
The Supreme Court is hearing contempt petitions related to Civil Appeal No 5041 of 2021. Mr. Gaurav Agrawal, Amicus Curiae, presented a note indicating Rs 1,26,29,968 has been disbursed to 15 home buyers. The court is addressing the remaining amounts to be paid to these buyers. The court notes that interest payments are subject to TDS under the Income Tax Act 1961. The IRP of Supertech Limited is directed to deposit Rs 75,22,773 by 15 January 2024, from the 30% designated RERA accounts of Supertech Limited. The court defers hearing other claims and contempt petitions for eight weeks, pending efforts in NCLAT to find an investor for the corporate debtor's projects. The court also directs that the TDS amount shall be deducted and deposited by Supertech Limited with the
…Order by the National Company Law Appellate…
Interim order passed by…
Sign in to view related legal provisions.