Supreme Court to dispose off Supertech Emerald flat buyers case in August

Supreme Court said it will hear the Supertech Emerald flat buyers case in August for final disposal

The Supreme Court on Monday said it would hear the Supertech Emerald flat buyers case in August for its final disposal.

In November 2016, the apex court had directed Supertech Builders to deposit Rs10 crore to its registry so that investors in the project do not get discouraged. (HT Photo)

Earlier, in November 2016, the apex court had directed the real estate firm Supertech Builders to deposit Rs10 crore to its registry so that the people who have invested in the project do not get discouraged.

The firm got into a legal battle in April 2014, when the Allahabad high court gave the order to demolish the company’s 40-storey twin towers in Noida.

The firm then challenged the high court’s order in the apex court.

It happened when a fall in prices of the real estate sector was observed in the recent past, attracting many people to invest in ‘cost-friendly’ homes.

The builders took the money but allegedly failed to deliver on time, thus inviting legal cases against them.