New Delhi: The Supreme Court on Wednesday pulled up real estate giant Supertech for failing to reimburse home-buyers of flats in the 40-storey twin towers in Noida, which were directed to be demolished by the court in August last year.
Taking a critical stance on the matter, the top court rapped the directors of Supertech for non-payment to home buyers for flats that are being demolished in the twin tower project.
“We will send your directors to jail now! They are playing truant with the Supreme Court,” Justice D Y Chandrachud said while hearing the matter.
“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,” he told the builder’s lawyers.
Justice Chandrachud directed Supertech to ensure that the payments are made by Monday (January 17) or else it will have to face consequences.
The Supreme Court also asked Noida Authority to finalise the name of the agency which would be given the task to demolish twin towers of Supertech Emerald Court housing project.
Justice Chandrachud directed the authority to respond on January 17.
The top court had ordered demolition of the twin towers in August last year.
The bench headed by Justices D Y Chandrachud A S Bopanna was hearing contempt pleas by the home-buyers, alleging that while, on the one hand, Supertech invited them to collect their money, on the other, when they approached the company, they were told that the money would be paid back in installments together with certain deductions which were not indicated by the Court.
The bench also told Supertech not to make deductions in the money to be refunded, which have not been ordered by the Court.
Home buyers further alleged in their plea that Supertech has made deductions which have not been indicated by this Court or suggested by the Amicus Curiae in the case.
The three-month demolition deadline for the 40-storeyed twin towers in Noida is over but the demolition is yet to take place.
On August 31, 2021, the Supreme Court had directed Supertech to demolish the twin towers within three months and gave directions to prosecute Noida officials involved in approving maps and building plans in violation of norms.