Supreme Court asks Supertech to deposit Rs five Crore
The Supreme Court on Tuesday directed real estate firm Supertech to deposit Rs five crore in its Registry as a part of refund to homebuyers for the project in which Allahabad High Court had ordered demolition of twin towers of Emerald Court in Noida, adjacent to the national capital. The apex court said that the amount has to be deposited by July 25 and posted its appeal for hearing on July 27. A bench of Justices Dipak Misra and R F Nariman said the appeal would be heard only after the amount is deposited. The Allahabad High Court had on April 11, 2014 ordered demolition of the two 40-storey residential twin towers -- Apex and Ceyane -- in Noida while directing Supertech to refund money to homebuyers with 14 per cent interest in three months. The two towers have 857 apartments in total. Of these, about 600 flats have already been sold.
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