New Delhi: The Supreme Court (SC) today directed real estate major Supertech to deposit a sum of Rs 10 Crore by January 3rd with the court registry, as part of its hearing of the case involving the company’s Emerald Court project in Noida.
The project consisting of two 40-storey towers has been in the news over the past couple of years, with home buyers who had invested in the project filing law suits claiming project delays. The complainants have been asking the company to refund their money or provide them with alternate flats.
Directing Supertech to deposit the money, the apex court observed that “this way, the people who invested in the project in Noida will not be disillusioned.”
In its last hearing in July, the SC had asked the company to deposit Rs. 5 Crores as part of a refund to homebuyers of the project. The National Building Construction Corporation (NBCC) had visited the project and submitted a report on alleged violations, and the court has said it will hear the case again on November 23rd.
The Emerald Courts project has 857 apartments in total, out of which around 600 units have already been sold.
Edited By Nikhil Narayan Sivadas