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Supreme Court Orders Supertech to repay homebuyers or face consequences

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supertech demolition case - law insider

Shivani Gadhavi

Published On: January 12, 2022 at 20:45

The Supreme Court of India today ordered Supertech to repay its customers who bought houses from them as the 40-storeyed Emerald Court Twin Tower in which the flats are located, is being demolished. The Firm is Ordered to repay the money by January 17, 2022.

Justice D Y Chandrachud of the Supreme Court of India expressed his dismay over the non-payment and stated “We will send your directors to Jail now! They are playing truant with the Supreme Court”. He further added “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.”

The Supreme Court also directed the Noida Authority to submit the name of agency which would be demolishing the Emerald Court Twin Towers. The Noida Authority is also to submit a name by January 17, 2022.

The Supreme Court Bench comprising Justices D Y Chandrachud and A S Boppana had Ordered the demolition of the housing project in August, 2021. While hearing a Contempt Plea in this regard, the Petitioners Alleged that Supertech had called them for repayment of money but when they went there the Company told them they would be paid back in installments and with deductions.

The Petitioners stated that the payment in installment and the aforementioned deductions were not stated in the Order of the Supreme Court from August 31, 2021.