Supertech Twin Towers To Be Demolished On August 28

New Delhi: Taller than Qutub Minar, the Supertech twin towers are all set to be demolished on August 28 at 2:30 PM as the Residents Welfare Association (RWA) has finished all necessary preparations in order to carry out the demolition.

The twin towers can now be destroyed with explosives, as per the Supreme Court (SC). Earlier, the demolition was scheduled to begin on August 21, but the court granted the Noida Authority's appeal to delay it until August 28.

As per SC, the decision to demolish the twin towers was taken following the serious violations of building codes as the Noida Authority and Supertech had engaged in ''nefarious complicity''.

The court also ordered to the demolition of the building at its own expense under the guidance of the Noida Authority and an expert organization like the Central Building Research Institute.

As per reports, on August 28, at least 3,700 kilos of explosives would be used to destroy the two 40-story towers owned by Supertech in Noida, Uttar Pradesh. The explosives wire connections, which have been installed on every floor, will be completed within the next two-three days.

In March this year, the National Company Law Tribunal (NCLT) declared real estate developer Supertech as bankrupt. The declaration came in a response to a petition filed by the Union Bank of India (UBI) for non-payment of dues.

The company failed to repay the bank's loan and due to multiple defaults, UBI had filed a petition for insolvency of Supertech with the NCLT.

However, at that time, the developer was mulling filing an appeal with the National Company Law Appellate Tribunal (NCLAT) against the NCLT move.

NCLT appointed Hitesh Goyal as Insolvency Resolution Professional (IRP) for Supertech under the Insolvency and Bankruptcy Code (IBC).

The NCLT, while hearing this matter, had reserved its order on March 17, 2022. However, after hearing all the arguments, NCLT has declared Supertech insolvent.

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