[Twin Tower Demolition] Supertech tells Supreme Court homebuyers will be paid

After the Supreme Court's rap last week, real estate giant Supertech Limited on Monday informed the top court that it has agreed to refund the amounts due and payable to the homebuyers who had bought flats in Noida's 'twin towers' now facing demolition, without any further delay [Supertech v. Emerald Court Owner's Welfare Association]..A Division Bench of Justices DY Chandrachud and AS Bopanna, recorded the submission of Supertech but made it clear that such refund shall not prejudice the rights of homebuyers and the contentions raised in the contempt petitions."It has been agreed that the admitted amounts which are due and payable according to Supertech Limited shall be paid over to the flat buyers immediately without prejudice to their rights and contentions in the contempt petitions," the Court recorded.The top court had warned the real estate company last week to make payments or face consequences.This was after the homebuyers moved the Court alleging that Supertech had invited them to collect the amount due but found that the same will be made in installments with deductions, contrary to instructions of the top court.The Court on Monday also asked the flat buyers to provide their RTGS details so as to facilitate electronic transfer of funds to their accounts.Senior Advocate Ravinder Kumar appearing for the New Okhla Industrial Development Authority (NOIDA), informed the Court that a Mumbai-based firm, Edifice Engineering has been finalized in consultation to carry out the demolition of the two 40-storeyed towers of Emerald Court housing project.Senior Advocate Parag P Tripathi appearing for Supertech, informed the Court that it has no objection to the agency which has been finalised and stated that the developer would be applying for all the required no-objection certificates (NOCs) within a week. The Bench then directed Supertech that all such applications should be marked to the NOIDA to ensure that the authority remains informed about all developments.The matter will be heard again on January 21. .On August 31 last year, the Supreme Court had upheld a 2014 verdict of the Allahabad High Court directing the demolition of the 40-storey twin tower building of Supertech Limited. It ordered that the demolition of the twin towers be completed within three months at the builder's expense.The Court had also ordered that all the flat-owners in the twin towers be reimbursed with 12 per cent interest and upheld the High Court's direction of sanction to errant officials concerned. .On October 4, last year, the Supreme Court had dismissed a plea moved by Supertech Limited seeking modification of the said order to the extent that only one tower be demolished. .[Read Order]