Supreme Court to Supertech: Refund money to all homebuyers

The Supreme Court on Friday ordered the real estate firm Supertech to process the refund to homebuyers, who have been affected due to the demolition of its two 40-story towers in Noida.

A bench comprising Justices D.Y. Chandrachud and Bela. M. Trivedi said Supertech should do the complete refund to homebuyers, who filed the contempt petition, by February 28, and the other homebuyers who are not in court should approach it within a week.

The top court accepted the computation report submitted by amicus curiae advocate Gaurav Agarwal for the refund to the homebuyers, who filed the contempt petition. After hearing detailed arguments in the matter, the top court asked the real estate firm, homebuyers, and the amicus to sit together to sort out modalities of the payment.

The top court said that not just those who approached it with contempt plea, but all homebuyers are covered by its August 31 judgment, passed last year, and they must be paid compensation.

On January 12, the top court had warned the real estate firm of "consequences" over the non-payment of refund to home buyers, who had paid for flats in two 40-storey towers which are being demolished on the court's order. It also made it clear that Supertech cannot make any deduction, which has not been ordered by the court.

A contempt plea was filed by homebuyers, who had paid for the flats in two 40-storey towers. Homebuyers have alleged that Supertech called them to collect the refund, however, they were later told that payment would be made in instalments, including certain deductions. Counsel, representing the home buyers, said the home buyers are aggrieved with the delay in the refund and also added that the court order did not mention about any deduction.

On January 17, counsel representing Supertech, informed the top court that the real estate firm has worked out the money which is to be given to each home buyer. The counsel asked the homebuyers to give it their RTGS particulars and the transfer money will be done. Advocate Sumit Agarwal, appearing for nine homebuyers, submitted that Supertech is only paying to those home buyers who have filed contempt petitions in the top court.

In its August 31 judgement, the Supreme Court had ordered the demolition of Supertech twin towers in Noida and also directed the firm to refund the money to the flat purchasers in these towers.