Refund With Interest Homebuyers Of To-Be-Razed Towers: Supreme Court

Saturday, 22 January 2022Newsdesk

The Supreme Court on Friday directed the realty major Supertech Ltd to refund the money with interest to all home-buyers, who have booked flats in now to be razed 40-storey twin towers of Emerald Court project by February 28.

New Delhi, 22 January 2022

As per news report of NDTV,It rejected the formula suggested for appropriation in the refund amount by the realty firm and said that the computation formula suggested by amicus curiae Gaurav Agrawal, shall be adopted to ascertain the amount due and payable.A bench of Justices DY Chandrachud and Bela Trivedi was hearing a batch of contempt petitions filed by homebuyers alleging that the builder was not complying with the directions of August 31, last year by the top court on the refund with interest and instead of making deductions on the total amount.

Source - NDTV