NOIDA: The Supertech Ecovillage-I homebuyers have demanded forensic audit of the accounts over alleged misuse of ₹24 crore fund collected for maintenance.
In a detailed complaint sent to the Supreme Court-appointed amicus curiae, the buyers demanded an audit against interim resolution professional (IRP) who opened a separate account and collected the funds in the name of maintenance in the housing complex.
The IRP, however, denied all allegations and refused further comment on the issue.
Notably, the IRP is appointed by the adjudicating authority (National Company Law Tribunal, or NCLT) upon the commencement of the Corporate Insolvency Resolution Process to take control of a corporate debtor’s assets, and manage operations.
Rina Yadav, who filed a complaint with amicus curiae Rajiv Jain appointed by the Supreme Court to oversee the 16 realty projects of the Supertech Limited, said, the IRP opened a separate account in 2022 and became a single signatory of the same to collect the maintenance from the homebuyers.
“Before November, 2024 we were paying the maintenance in an account that was operated by Supertech Limited and IRP together. After opening the account, the IRP removed old maintenance agency from the work, and hired another agency that has been doing shoddy work in the complex. The IRP has also not made the payment to vendors, who have been working in the complex that has been facing civic woes including water contamination, frequent power cut, no proper cleaning and other issues. We want forensic audit to determine where the funds have gone,” Yadav told HT on Thursday.
The complaint (seen by the HT) states that in the new account, ₹24 crore were collected from November 2024 to August 2025 but the vendors are yet to be paid for their work. Although the home buyers paid for maintenance on time, their power supply remained interrupted in 2025 as the dues were not cleared.
The homebuyers somehow managed to pay ₹1.5 crore to the electricity department with the help from previous promoter to restore the supply, alleged the buyers.
“We have been paying the maintenance charges on time but still fail to get the required services. This society has become a symbol of corruption, negligence and neglect. The drinking water was contaminated so much so during previous summer that many families fell ill and it became a huge issue due to the negligence of the maintenance agency. We raised the issue before the IRP but nothing happened. We hope that the Supreme Court appointed team will look into these issues and address the same,” said Sunil Kumar, another homebuyer of Ecovillage-I.
Bringing relief to thousands of homebuyers who have been waiting for possession of their delayed homes for more than a decade, the Supreme Court on February 5, 2026 had upheld NCLAT’s order directing the government’s construction arm, NBCC, to complete 16 housing projects of the debt-ridden real estate firm Supertech expeditiously.
Supertech Limited’s chairman RK Arora did not take calls when contacted on Thursday.
A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi used its extra-ordinary power under Article 142 of the Constitution to uphold the December 12, 2024 order of the National Company Law Appellate Tribunal (NCLAT), asking the NBCC to take over the projects in the interest of the homebuyers.
On May 25, 2024 the NCLAT had directed the resolution professional Hitesh Goel to establish communication with the state-owned national building construction company (NBCC) to take over the construction in delayed Supertech housing projects, following the demands raised by the home-buyers’ council.
The NCLAT had on August 9, 2024 directed the NBCC to submit its resolution plan detailing a way out to deliver the stuck projects to address the grievances of more than 42000 home-buyers.
Since then the Supreme Court was hearing the matter and finally on February 5, 2026 it delivered a final order rejecting the realty firm Supertech Limited’s plan of delivering the project.