Supertech Case: “Return Money to Home Buyers by Jan 17th,” Says SC

The Supreme Court on Wednesday sentenced property developer Supertech for non-payment to buyers of the apartments, which were ordered to be demolished.

A bench led by Judge DY Chandrachud told Supertech to keep its desk tidy and make payment to homebuyers by January 17. He said that no amount should be deducted when returning the money.

The judiciary told Supertech’s attorney: “Interest cannot be charged on return on investment. You are looking for all kinds of reasons not to comply with the court order. Make sure payments are made by Monday, otherwise there will be consequences. “

The Supreme Court heard a contempt plea from homebuyers who paid for the apartments on which the Supreme Court judgment of August 31, 2021 ordered the demolition of the 40-story twin-tower building of Supertech’s Emerald Court project in Noida .

Homebuyers alleged Supertech urged them to get their money back. However, when they approached the business, they were told that the money would be paid back in installments with some deductions that were not indicated by the court.

The Supreme Court further asked the Noida Authority to finalize the name of the agency that would be responsible for demolishing the Twin Towers of the Supertech Emerald Court housing project.

The highest court has now taken the case under advisement on Monday.

Previously, the Supreme Court had dismissed a plea by Supertech requesting a change to its August 31 order that ordered it to demolish two of its 40-story towers at its Emerald Court housing project in Noida.

While ordering the demolition of two towers for serious violations of construction standards, the court declared that it was an “infamous complicity” between the authority of Noida and Supertech and ordered this company to ” carry out the demolition at their own expense within three months. under the supervision of the Noida Authority and an expert body such as the Central Building Research Institute.

The order followed a batch of petitions filed by homebuyers for and against the April 11, 2014 verdict of the Allahabad High Court, which ordered the two buildings to be demolished within four months and reimbursed. money to apartment buyers.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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