The Supreme Court in August ordered the demolition of the 40-storey twin towers - Apex and Ceyane, which are part of Supertech's Emerald Court Project in Noida. (File image of the twin towers)
Supreme Court on January 12 directed Supertech to return money to homebuyers invested in the 40-storey twin towers located in Noida by January 17 or face jail. The apex court had ordered demolition of the two towers on August 31, 2021.
“We will send your directors to jail now! They are playing truant with the Supreme Court!...Interest cannot be charged on Return of Investment! You are looking for all sorts of reasons to not comply with the order of the court. Ensure that the payments are made by Monday, else there would be consequences!” Justice Chandrachud told the advocate appearing for Supertech.
The bench headed by Justices D. Y. Chandrachud heard the contempt pleas of the homebuyers of the twin towers on January 12. The buyers alleged that when they approached the realtor to collect their amount, they were told that the money would be paid to them in installments along with certain deductions.
The bench also asked Supertech not to make deductions in the amount to be refunded, which have not been ordered by the court.
The court also asked Noida Authority to finalise the agency that would be tasked with demolishing the twin towers in the Noida Emerald Court housing project and directed it to file its response on January 17.
The apex court had on August 31, 2021, directed that the entire amount paid for by home buyers be refunded with 12 percent interest from the time of the booking and the Residents Welfare Association be paid Rs 2 crore for the harassment caused due to the construction of the twin towers.
“The appellant shall within a period of two months refund to all existing flat purchasers in Apex and Ceyane (T-16 and T -17), other than those to whom refunds have already been made, all the amounts invested for the allotted flats together with interest at the rate of twelve percent per annum payable with effect from the date of the respective deposits until the date of refund … The appellant shall pay to the RWA costs quantified at Rs 2 crore, to be paid in one month from the receipt of this judgment,” the order had said.
The builder had said that out of 633 people booking the flats initially, 133 have moved out to other projects, 248 have taken refunds and 252 home buyers still had their bookings with the company in the project.
The Supreme Court on August 31 ordered the demolition of the structures located in Sector 93A within three months. The court held that the construction violated the minimum distance requirement and had been built illegally without taking the consent of the individual flat owners as required under the UP Apartment Act.
A bench of Justices DY Chandrachud and MR Shah had ordered that the demolition of the twin towers should be completed within three months and the builder would have to bear the expenses for the same.
The court said that the work of demolition shall be carried out by Central Building Research Institute (CBRI) to ensure safe demolition. In case CBRI refuses, a new authority will be appointed, the bench said.
Also Read: Demolition of Noida’s Twin Towers may take more than six months
The two towers, Apex and Ceyane of Emerald Court Project of Supertech, together have 915 apartments and 21 shops. Of these, 633 flats were booked initially.
On April 11, 2014, the Allahabad High Court had ordered the demolition of the two buildings within four months and the refund of money to apartment buyers.
Also Read: Noida brokers say sale of Supertech projects down by half after Supreme Court ruling