UP-RERA warns homebuyers as 129 projects move to NCLT; IRPs now the only route

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued an advisory to homebuyers after the National Company Law Tribunal (NCLT) admitted 14 real-estate developers with a total of 129 projects into the Corporate Insolvency Resolution Process (CIRP) during the period from January 2024 to now.

NCLT is now the only authority that can deal with these projects, so UP RERA has informed the allottees to submit their claims only through the appointed Insolvency Resolution Professionals (IRPs).

RERA jurisdictions suspended under IBC moratorium

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The authority further explained that once the NCLT is involved in the CIRP of a project, the moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) immediately applies.

This moratorium halts all regulatory, legal, and recovery actions, due to which RERA cannot take up or continue complaints, enforcement orders, or hearings related to these projects until the moratorium is lifted.

The authority emphasised that allottees’ rights and grievances must now be placed before the concerned IRP in accordance with IBC procedures.

What should homebuyers do?

UP RERA has advised all affected homebuyers to 'urgently file their claims' with the designated IRPs using the prescribed forms available under IBBI and NCLT guidelines — including Form CA and other applicable formats.

The authority urged buyers to:

1) Submit claims accurately and promptly

2) Maintain regular communication with the IRP

3) Track updates on CIRP progress, Committee of Creditors (CoC) meetings, and all NCLT-related directions

This process, UP RERA noted, is essential to ensure that buyers’ financial interests are formally recognised during insolvency resolution.

14 developers under CIRP: Key IRPs and projects

Between January 2024 and now, 14 real-estate companies have been admitted into CIRP. These include:

• Ajnara Realtech Limited with five projects under IRP Amarpal (amarpal@icai.org);
• Supertech Township Project Limited with four projects under IRP Umesh Singhal (SinghalUK@hotmail.com);
• Kindle Infra Heights Private Limited with one project under IRP Hemant Sethi (hemantmlsethi60@gmail.com);
• BCC Infrastructures Private Limited with three projects under IRP Harish Taneja (harishtaneja78@gmail.com);
• Morpheus Pro Developers Private Limited with one project under IRP Shailendra Singh (Shailendralaw@gmail.com);
• Mist Direct Sales Private Limited with three projects under IRP Narendra Sharma (nksharma.fcs@gmail.com); and
• Rudra Buildwell Constructions Private Limited with one project under IRP Mohit Goyal (CAMohitgoyal@gmail.com).
• Other companies include ATS Heights Private Limited with one project under IRP Gaurav Katiyar (CAGauravkatiyar@gmail.com);
• Nobility Estates Private Limited with two projects under IRP Hitesh Goel (iphiteshgoel@gmail.com);
• Vardhaman Infradevelopers Private Limited with one project under IRP Sanjeet Sharma (Sansharma1975@gmail.com);
• Nikhil Homes Associates with one project under IRP Pramod Sharma (pksharmafcs@gmail.com);
• Mahagun India Private Limited with five projects under IRP Manoj Aggarwal (manojagrawal20@gmail.com); and
• Supertech Realtors Private Limited with four projects under IRP Anju Aggarwal (anju@insolvencyservices.in).

Among all, Ansal Properties and Infrastructure Limited stands out with 97 projects now under CIRP, supervised by IRP Navneet Gupta (navneet@minervaresolutions.com)

RERA urges swift action from homebuyers

UP RERA has appealed to homebuyers to act without delay and file their claims with the respective IRPs. The authority stressed that 'timely claim filing is critical' for protecting buyers’ stakes during the insolvency resolution process.

As long as the IBC moratorium is in place, RERA cannot intervene or resume regulatory functions for these projects. Homebuyers have been advised to rely exclusively on official communication from IRPs and NCLT for updates regarding their projects.