The process to place explosives within the Supertech's illegal twin towers is scheduled to begin from Tuesday under heavy security cover, according to officials.
Supertech's twin towers Apex and Ceyane in Noida's Sector 93A will be demolished at 2.30 pm on August 21
During the period when explosives are placed in the buildings, no body except the staff of the demolition firm, Edifice Engineering, would be allowed inside the premises, according to officials.
There is no cut-copy-paste method when it comes to demolitions
On June 10, the NCLAT ordered starting of insolvency proceedings in only one of the housing projects of realty firm Supertech and not the entire company
NCLAT on April 12 stayed the formation of CoC as the promoters have sought some time to settle the matter with their financial creditor
"In a bid to ensure the compliance of the orders of the apex court, the twin towers will be demolished on August 21, 2022, to have a buffer of one week," said a statement from Noida authority
The erstwhile management of realty firm Supertech on Wednesday informed the Supreme Court that it has submitted a settlement proposal with Union Bank of India
The Supreme Court on Monday extended till August 28 the deadline for demolition of Supertech's twin 40-storey towers in its Emerald project in Noida, which have been held as illegal
Embattled real estate major Supertech Ltd on Friday informed the Supreme Court that it is in talk with the financial creditor Union Bank of India to resolve the dispute over the payment of dues.
Supertech fought a long and draining legal battle to protect its twin towers -- having over 900 flats and 21 shops -- against demolition, which had been ordered for violation of building bylaws
The bank on whose application the NCLT decided to initiate insolvency resolution proceedings against Supertech Ltd has made the submissions before appellate tribunal NCLAT
During the proceedings before the appellate tribunal, Supertech Ltd's counsel requested for adjourning the matter for a week to enable it to approach the bank for negotiations.
The Supreme Court had on August 31 last year ordered demolition of the twin towers, which had come up inside the Supertech Emerald Court housing society's premises in Sector 93A
The test blast would be carried out at 2.30 pm on Sunday in the society in Noida's sector 93-A, according to an advisory issued by the firm
The top court also sought response from the IRP on the disbursal of home buyers' claims
The NCLT order is likely to hit over 25,000 home buyers who have booked their homes with the company for over several years
Union Bank claims unpaid dues of Rs 492 crore
The NCLT said 'there has been a default in payment of the financial debt' and appointed Hitesh Goyal as the Interim Resolution Professional superseding the board of Supertech Ltd
The Noida authority informed the Supreme Court that Supertech 40-story twin towers will be demolished on May 22. In its August 31 judgment, last year, the SC had ordered for demolition of twin towers