Key facts
- Supreme Housing promoters have a final chance to settle debt with Canara Bank.
- The National Company Law Appellate Tribunal ordered a deposit of ₹460 crore by June 13.
- This is the third opportunity for the company to resolve its financial obligations.
- Failure to meet the deadline will allow the insolvency process to proceed.
Supreme Housing is facing an insolvency process due to outstanding dues to Canara Bank. The National Company Law Appellate Tribunal (NCLAT) is overseeing the resolution, providing the company with multiple opportunities to settle its financial obligations. This latest order sets a firm deadline for a significant deposit, indicating the critical stage of the proceedings.