supertech builders, business from flat to cemetery construction, 34 companies, wealth worth crores, then how did supertech’s RK Arora get ruined? – who is supertech rk arora, building flats to selling graveyards

New Delhi: Supertech chairman RK Arora was briefly detained on Monday for non-payment of dues, but was released after a payment plan was submitted to the district administration. The difficulties of RK Arora, who has more than 70 thousand flats, 36 companies and wealth worth crores, are increasing. The names of Supertech and RK Arora came into limelight when the Supreme Court ordered the demolition of Twin Towers in Noida. The story of RK Arora, once one of the biggest builders of Delhi-NCR, from progress to ruin is also interesting.

Who is RK Arora

RK Arora is the founder of Supertech. Apart from Supertech, he also owns 34 more companies. His business has spread from building to building and selling cemeteries. On 7 December 1995, RK Arora along with some of his friends laid the foundation of Supertech. In no time, he has launched real estate projects in 12 cities. He started many projects in Delhi, Meerut, Noida, Greater Noida. Apart from real estate, he spread his legs in the business of Civil Aviation, Consultancy, Broking, Pretig, Films, Housing Finance, Construction. Not only this, Supertech started a company from making and selling cemeteries.

Supertech builders company started by wife

Supertech Limited was established in the year 1995. Four years later, RK Arora started a company named Supertech Builders and Promoters Private Limited in the name of his wife Sangeeta Arora. Everything was happening very fast. Many projects of Supertech were starting in Delhi-NCR. Supertech has constructed more than 70 thousand flats. Initially the buyers were getting handover of on lime flats. People’s trust started increasing on Arora. People were getting bookings done in projects like Supertech Hill Estate, Supertech Safari Studio, Supertech 27 Heights, Supertech Sambhav Homes, Supertech Renaissance, Supertech The Romano, Supertech Eco Village. Supertech tried to spread its foot in many sectors simultaneously, which proved to be its biggest mistake. On one side the building was being constructed and on the other side the company bought an aeroplane.

Entry in aviation sector

Supertech was trying its hand in every small and big business. RK Arora started Supertech Aviation Private Limited on 9 January 2013 to start air transport. The company also bought an aeroplane. His aim was to buy a license for civil aviation. The company argued that it wanted to start short distance flight service from Noida-Greater Noida to Delhi and UP cities. However, his dream could not be fulfilled and the project fell into disrepair. Supertech also had to return the airplane to the aviation.

Registration of 19 companies in one year

How quick RK Arora was to expand his business can be gauged from the fact that in the year 2016, he got 19 companies registered. Also acquired some smaller companies. Damodar Build Engineers Private Limited was acquired in the year 2019.

The business of building and selling cemeteries

Supertech did not limit itself to one zone. The company also formed a company to create, develop and allot cemeteries. The company was formed in the year 2006. However, after the registration of the company, the activities were almost negligible.

Supertech company bankrupt in 2022

The company ended up shooting itself in the foot. The company was declared bankrupt in the year 2022 due to wrong activities. Supertech’s real estate company was declared insolvent by the National Company Law Tribunal (NCLT) in March 2022. Supertech has a debt of about Rs 432 crore. The loan was taken by the company from a consortium of banks led by Union Bank of India.

RK Arora’s family

RK Arora is survived by a son and wife. Arora’s son Mohit Arora heads several companies. His daughter Mohini Arora died in a car accident in London. Wife Sangeeta Arora is employed in various positions in various companies of Supertech Limited.