New Delhi, July 23 (Language) The Supreme Court on Thursday postponed for three months the hearing on a petition seeking refund of money to home buyers of the collapsed twin towers of real estate company Supertech in Noida.
A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V Mohana took note of the submissions and said efforts are on to satisfy the claims of home buyers who have not opted for alternative allotment.
The bench adjourned the hearing after it was told that three months’ time should be given to explore other options to meet the claims of the home buyers.
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A lawyer representing some home buyers said they were not getting refunds and the last payment was made in 2024.
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Earlier, the apex court had said that the amount deposited by the Interim Resolution Professional (IRP) will be refunded to home buyers of the now demolished twin-towers on a proportionate basis. The real estate company is facing insolvency proceedings under the IBC.
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On August 28, 2022, the twin-towers of the Emerald Court project in Sector 93A, Noida were demolished using explosives.
On August 31 last year, the top court had ordered the demolition of twin 40-storey towers under construction by Supertech Ltd within three months for violating building norms in “connivance” with Noida officials, observing that illegal construction should be dealt with strictly to ensure compliance with the rule of law.
The apex court had pointed out the collusion of Supertech Ltd with its officials in the Emerald Court project and several incidents of violation of norms by the realty major in the construction of the twin towers, leading to a strong rebuke of the Noida authority.
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The apex court had directed that the entire amount of home buyers be refunded along with 12 per cent interest from the time of booking and paid to the RWAs of the Emerald Court project. ₹Rs 2 crore for the harassment caused by the construction of the twin towers, due to which existing residents of the housing project adjacent to the national capital are deprived of sunlight and fresh air.
