Supertech told to deposit Rs 10 crore with Supreme Court | Latest News Delhi - Hindustan Times
close_game
close_game

Supertech told to deposit Rs 10 crore with Supreme Court

Hindustan Times | By, New Delhi
Nov 09, 2016 12:06 AM IST

Real estate developer Supertech Ltd was directed on Tuesday to deposit Rs 10 crore with the Supreme Court registry to safeguard buyers of flats in the builder’s litigation-marred Emerald project in Noida.

Real estate developer Supertech Ltd was directed on Tuesday to deposit Rs 10 crore with the Supreme Court registry to safeguard buyers of flats in the builder’s litigation-marred Emerald project in Noida.

Real estate developer Supertech Ltd was directed on Tuesday to deposit Rs 10 crore with the Supreme Court registry to safeguard buyers of flats in the builder’s litigation-marred Emerald project in Noida.
Real estate developer Supertech Ltd was directed on Tuesday to deposit Rs 10 crore with the Supreme Court registry to safeguard buyers of flats in the builder’s litigation-marred Emerald project in Noida.

The order came two years after the Allahabad high court ordered demolition of the project, which has two multi-storey towers, based on a lawsuit by residents that the builders didn’t follow fire safety rules.

Hindustan Times - your fastest source for breaking news! Read now.

The twin towers have 857 apartments, of which about 600 were sold.

The demolition order, pending execution, put the home buyers in a state of uncertainty.

“Purchasers should not be kept in illusion,” said a Supreme Court bench headed by Justice Dipak Misra, after ordering Supertech to deposit the money to refund the home buyers in case the buildings were razed.

The builders have challenged the high court order in the top court. The court said it will hear Supertech’s appeal at the earliest.

In a similar order in July, the top court directed the company to deposit Rs 5 crore with its registry.

The company was asked later to pay 10% a month of the invested amount from January 5, 2015, to 17 home buyers within four weeks.

Also, the National Building Construction Corp (NBCC) was asked to investigate if building rules broken. The NBCC submitted its report, which the court said senior advocate P Narasimha will take a look at.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On