SC orders Supertech builders to make refunds to home buyers before Feb. 28

SC orders Supertech builders to make refunds to home buyers before Feb 28

SC orders Supertech builders to make refunds to home buyers before Feb 28

Supertech’s “Emerald Court Twin Towers” have been ordered to be demolished

New Delhi, Feb. 4 (Delhi Crown): The Supreme Court on Friday directed the Supertech builders to refund the amounts to the home buyers of flats in “Emerald Court Twin Tower” project, before this month end.

The Apex Court has already ordered for the demolition of the twin towers situated in Noida.

The Court directed the builder to refund as computed by the Amicus Curiae. Where home loans are outstanding, the developer shall clear the home loans on or before March 31 and furnish NoCs from the concerned financial institutions to the home buyers no later than April 10.

And, in respect of those home buyers who have entered into settlement with the developer, the settlement shall govern the rights and obligations of the respective parties.

The SC bench of Justices D. Y. Chandrachud and Surya Kant noted that 38 home buyers are before the court in several impleadment applications, and that the home buyers are seeking refund in terms of the final judgment and order of this court dated 31 August 2021 (by which the demolition was ordered).

The bench further noted in its order that Senior Advocate S. Ganesh, for the developer, states that in order to put an end to the controversy, the developer accepts the computation made by the amicus as well as the submissions which are noted above.

The bench observed in its order, “On behalf of the home buyers, some of the counsel have submitted that notwithstanding the settlement, the payment should be re-computed in terms of the directions of this court. Having regard to the fact that several home buyers have arrived at settlements which are reflected in the note submitted by the amicus and have received payments pursuant to the settlement, it would be manifestly unfair to reopen the settlements.”

Earlier, the Court had warned Supertech’s Directors of jail if the amounts were not paid to the homebuyers.

In August last year, the Court had directed the demolition of the twin towers in Noida for violation of the building rules and had directed refunds to the purchasers.

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