Supertech Twin Tower Home Buyers In Noida Will Get Full Money Back Says Supreme Court

Supertech Twin Tower Demolition Case: The Supreme Court has given...

Supertech Twin Tower Demolition Case: The Supreme Court has given great relief to the people who have bought a house in the Twin Towers of Supertech, Noida. The Supreme Court on Friday said in the matter that the home buyers of the 40-storey twin tower of Supertech will be given their full money back.

A bench of Justice DY Chandrachud, Justice AS Bopanna and Justice JB Pardiwala has said that home buyers will get full money deposited by them. However, buyers will be paid out of Rs 1 crore for the time being, which will be deposited by the IRP by 30 September.

These twin towers were built in the Emerald Court project in Sector 93A, Noida. The court has ordered their demolition. They will be dropped on August 28. Action is being taken on them under the insolvency process. The Supreme Court has also directed the interim resolution professional of the firm facing the process to deposit Rs 1 crore in the apex court registry.

What else did the Supreme Court say?

Let us tell you that the Supreme Court had ordered the home buyers to return their money last year. Several contempt petitions seeking refund after the apex court’s order are currently being heard. The hearing bench has said that it will ensure that the home buyers of the twin-towers get full refund as per the order dated August 31, 2021.

“Meanwhile, in order to ensure that the home buyers get some refund of their dues as per the judgment of this Court, we request the IRP to deposit an amount of Rs. The court said that amicus curiae Gaurav Agarwal will sit with the IRP in the first week of October and jointly work out the dues of the home buyers.

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