NEW DELHI: The Supreme Court on Friday said that the home buyers of the to-be-razed 40-storey twin-towers of real estate firm Supertech in Noida will be refunded the full amount deposited with the builder. The apex court also asked the Interim Resolution Professional (IRP) of the firm, facing insolvency proceedings, to deposit Rs 1 crore with the apex court registry. The Supertech’s 40-storey twin towers at Emerald Court Project of Sector 93A of Noida are scheduled to be razed on August 28.
A bench of Justices DY Chandrachud, AS Bopanna, and JB Pardiwala said that the home buyers of twin towers will get their total refund but for the time being, they will be paid from Rs 1 crore, which will be deposited by the IRP by September 30. The top court was hearing a batch of contempt petitions filed by home buyers seeking a refund as per the last year’s order of court.
The bench said that it would ensure that the home buyers of the twin towers get their refund in compliance with the August 31, 2021 order of the court.“In the meantime, in order to ensure that the home buyers who are covered by the judgement of this court get some refund of their outstanding dues, we direct the IRP to deposit an amount of Rs 1 crore with the registry of this court on or before September 30”, it said.
The bench said that amicus curiae Gaurav Agarwal, will sit together with the IRP in the first week of October and jointly work out the outstanding dues of the home buyers and submit the details before the next date of hearing so that disbursement of some amount could be made to the hassled home buyers.
“The amicus and the IRP would jointly work out the outstanding dues of the home buyers, who have approached the court and submit their details on the next date of listing so that directions can be issued for the disbursement of the fund,” it said. It said that in the first week of October, the amicus should hold a meeting with the IRP to ascertain, how much expenses are needed for the completion of stalled projects.