Supreme Court tells Supertech to deposit Rs 10 cr

Mail Today Bureau   New Delhi     Last Updated: November 9, 2016  | 10:11 IST
Supreme Court tells Supertech to deposit Rs 10 cr

The Supreme Court on Tuesday directed real estate major Supertech Ltd to deposit Rs 10 crore to refund home buyers who want to pull out of its disputed Emerald Court project in which two towers have been confirmed to be non-compliant of building laws in an investigation carried out by the National Buildings and Construction Corporation.

A bench of Justices Dipak Misra and Amitava Roy observed that "in the meantime, builders M/s Supertech Ltd shall deposit Rs 10 crore with the registry by January 3, so that the people are not in any kind of illusion."

The bench noted that some home buyers wanted to remain in the building but some want refunds of the investments made. It said those home buyers who want their refund back needed to be given back the funds, but clarified that Rs 10 crore to be deposited before the registry of the apex court will be without any prejudice of the contention raised during hearing of the matter.

Additional Solictor General P S Narasimha submitted the report of National Buildings Construction Corporation Ltd which was asked by the Supreme Court to examine the alleged violations of the building rules in Supertech's Emerald Court project in Noida as the Allahabad High Court had ordered demolition of the two towers.

As soon as the report was accepted by the bench, senior advocate Jayant Bhushan appearing for the PIL petitioner before the High Court said the NBCC report is in our favour. Bhushan, on being questioned about the locus, said it was their petition on which the High Court had ordered demolition. We are the original petitioners having flats in close vicinity of the alleged structures, he said.

The NBCC report said, The open space available between the two towers Tower 1 (Aster 2) and Tower 17 is less than 20.45 metres as prescribed in the NBC rules. Thus from the above observations and inferences, NBCC concludes the opinion that the two towers, Tower 1 (Aster 2) and Tower 17 is not compliant with the REG 24.2.1(6)of Noida Building Regulations 2010.

The bench which took on record the NBCC report on the building, asked ASG to ensure that an expert from NBCC is present in the court on the next date of hearing on November 23. Senior advocate Gopal Subramanium, appearing for the realty firm, said if the building stays, then one flat will be thrice the value that was paid by the petitioners.

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