Supertech homebuyers to get the refund of investments: SC

Supreme Court: The Bench comprising of CJ Dipak Misra and AM Khanwilkar and Dr DY Chandrachud JJ., in an order gave huge relief after a long wait to the 135 homebuyers in Supertech’s controversial Emerald Court housing complex in Noida by directing the refund of their investments.

Supreme Court ordered Supertech to deposit the balance amount of Rs 15 crore with an additional Rs 1 crore as interest in two tranches. Supertech had earlier deposited Rs 20 crore.

Gaurav Agrawal amicus curiae informed that he held extensive discussions with homebuyers and 111 of them submitted affidavits agreeing to receive invested amounts with 12% simple interest per annum.

The Supreme Court Bench has directed to deposit the amount by 30-11-2018. The matter is to be listed in the second week of October 2018. [Supertech Limited v. Emerald Court Owner Resident Welfare Association, Special Leave to Appeal (C) No. 11959 of 2014, order dated 30-07-2018]

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