Supreme Court directs Supertech to refund Homebuyers, as computed by Amicus Curiae

SUPERTECH TWIN TOWERS Law Insider

Mitali Palnitkar

Published On: February 04, 2022 at 18:09 IST

On February 4, 2022, the Supreme Court in relation to the Supertech Emerald Court twin tower demolition matter directed to refund the home buyers on or before February 28 as computed by the Amicus Curiae.

The Bench comprised of Justices DY Chandrachud and Surya Kant. It noted that 38 home buyers sought refund in terms of the final Judgment and Order of the Court dates August 31, 2021 through which the demolition was Ordered.

The Court also directed the developer to clear the outstanding home loans on or before March 31, 2022 and furnish No Objection Certificates (NOCs) from financial institutions to the home buyers on or before April 10, 2022. It was told that the settlement shall govern the Rights and Obligations of those home buyers who had entered into settlement with the developer.

The Bench noted that Senior Advocate S Ganesh, appearing for the developer had accepted the computation made by the Amicus Curiae in order to end the controversy.

The Bench observed that the payments shall be re-computed as per the directions of the Court. Also, it opined that it was unfair to reopen settlements when several home buyers had already arrived at settlements and had received payments.

The Advocate for the home buyers claimed that the settlements were procured by the developer under coercion. Justice Chandrachud questioned, “We have to observe some fairness to the developers also. If there are settlements, then how can we intervene in this? Why did you enter into the settlement? How can you now say that it was on account of coercion?”

Justice Surya Kant stated, “There has to be some end to this controversy. Otherwise, it will never come to an end.”

The Bench stated that it accepted the computation submitted by the Amicus and directed that the payment shall be made in terms of the submissions of the Amicus Curiae.

Earlier, the Supertech Directors were warned by the Court that they would be Jailed if they failed to pay the amounts to home buyers. In August 2021, the Court had directed to demolish the twin towers for violating Building rules and asked the developers to refund the purchasers.

Related Post