New Delhi, Sept. 5 -- The Supreme Court on Thursday suggested setting up an independent committee to examine bids for reviving Supertech's Supernova project in Noida, with the aim of protecting homebuyers' interests even as the company faces fresh insolvency proceedings before the company law tribunal.

The proposal came while the court was hearing a petition filed by Supertech Realtors-a subsidiary of the Supertech group-challenging an August 13 order of the National Company Law Appellate Tribunal (NCLAT) that upheld the National Company Law Tribunal's (NCLT) decision to initiate insolvency proceedings.

A bench of justices Surya Kant and Joymalya Bagchi observed: "It is suggested that all stakeholders, including homebuyers who are in oc...