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SC directs Supertech to make refund with interest to home-buyers of to be razed twin-towers

Agencies | Updated on: Friday, January 21, 2022, 09:19 PM IST

SC also rejected the formula suggested for appropriation in the refund amount by the realty firm. | PTI Photo
SC also rejected the formula suggested for appropriation in the refund amount by the realty firm. | PTI Photo
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The Supreme Court directed the realty major Supertech Ltd to refund the money with interest to all home-buyers, who have booked flats in now to be razed 40-storey twin towers of Emerald Court project by February 28.

SC also rejected the formula suggested for appropriation in the refund amount by the realty firm.

The computation formula suggested by amicus curiae Gaurav Agrawal, shall be adopted to ascertain the amount due and payable, stated Supreme Court.

A bench of Justices DY Chandrachud and Bela Trivedi was hearing a batch of contempt petitions filed by homebuyers alleging that the builder was not complying with the directions of August 31, last year by the top court on the refund with interest.

The bench said, “In our view, the refund which is due and payable arises from the judgement of this court. "

(With inputs from PTI)

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Published on: Friday, January 21, 2022, 09:19 PM IST