Delhi-NCR-based developer Supertech has been declared insolvent on March 25, several media reports said, fter the Delhi bench of the National Company Law Tribunal admitted a petition filed by the Union Bank of India for non-payment of dues.

The order is said to impact over 25,000 homebuyers who are awaiting possession of their homes booked with the developer for several years. Supertech builders have several ongoing projects in both commercial and residential sectors in the NCR region, and other parts of Northern India. 

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