Khaitan & Co Represented The Resolution Professional Of Supertech ORB Project Private Limited During Its Corporate Insolvency Resolution Process

Khaitan & Co represented the Resolution Professional of Supertech ORB Project Private Limited during its corporate insolvency resolution process

The leading law firm in India, Khaitan & Co advised Mr Shailendra Ajmera, the Resolution Professional (“RP”) of Supertech ORB Project Private Limited (“Company”), along with Ernst & Young LLP, the Insolvency Professional Entity assisting the RP, during the corporate insolvency resolution process (“CIRP”) of the Company, which commenced on 13 October 2023 pursuant to the order passed by the Hon’ble National Company Law Tribunal, Allahabad (“Adjudicating Authority”). The firm subsequently advised the Monitoring Committee (“MC”) during the implementation of the approved resolution plan submitted by Brickboss Infra Private Limited (“SRA”).

The Company is engaged in the development of real estate projects and is developing a multi-storied housing project in Sector 74, Supertech Cape Town, Noida, Uttar Pradesh, under the name ‘Supertech ORB Project’.

Khaitan & Co provided day-to-day advisory support to the RP on all aspects of the CIRP, including preparation of legal opinions, assistance in management of the Company, admission of claims, and vetting of key documents such as the information memorandum and request for resolution plans. The firm also provided litigation support to the RP, including appearances before the Adjudicating Authority and briefing senior counsel.

The resolution plan submitted by the SRA was negotiated and approved by a 100% vote of the committee of creditors, comprising Assets Care & Reconstruction Enterprises Limited (acting in its capacity as trustee of India Real Estate 2021 Trust) along with 98 allottees of the Company. The resolution plan settles claims of all stakeholders at INR 420.86 crores. The plan was approved by the Adjudicating Authority vide order dated 18 November 2025 and was subsequently successfully implemented.

The CIRP involved addressing complex claims of multiple allottees who were originally allotted units by the erstwhile parent company, Supertech Limited, which is itself undergoing insolvency. Khaitan & Co also advised on the assessment and approval of the resolution plan and represented the RP in litigation challenging the CIRP initiation and plan approval. The firm further oversaw implementation of the resolution plan, including advising on implementation processes, attending monitoring committee meetings, and drafting and executing definitive documents.

The Khaitan & Co team was led by Dr Siddharth Srivastava (Partner, Restructuring & Insolvency/ Banking & Finance) and Mohit Kishore (Partner, Restructuring & Insolvency/ Banking & Finance), with support from Udita Singh (Principal Associate), Avni Shrivastav (Principal Associate), Shikha Mohini (Associate), and Amritam Anand (Associate).

The real estate advisory was led by Avnish Sharma (Partner, Real Estate), with assistance from Siddharth Godha (Principal Associate) and Rupali Singh (Principal Associate).

Click to know more about Khaitan & Co

If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at info@legalera.in or call us on +91 8879634922.