The Supreme Court has given a supplement to create a website for shoppers of Apex and Cyan Twin towers at Emerald Court, Noida, Sector 93. Flat buyers will enter their details on this website and they will get the money back with 14 percent interest.
This directive was given by a bench chaired by Chief Justice Deepak Mishra during the trial of twin towers. The court directed the counsel Gaurav Agarwal to make a web portal while appointing the judge in the matter. The details of flat buyers and their money in these two twin towers are given in the portal. Those flat buyers who have not yet received the money back, they will register themselves and give their full details. After that, they will be given back money with 14 percent interest. For the buyers who do not want flat, they have deposited Rs 20 crore in the Supertech Supreme Court registry.
The court has fixed the date for October 23 for the hearing of the case. The court will give full details to the Judiciary Court on that day. Courts have clarified that the money that will be given with the interest of 14 percent will be deducted from the money which Supertech Company has given to flat buyers as return on investment. Interest from buyers will also be given till the date of the arrival of the High Court from the date of payment. According to Keshav Mohan, the company’s counsel, money has been returned to most people and only a few people remain. It is worth mentioning that the Allahabad High Court had allowed the demolished floors of the two towers of Supertech to be more. But the Supreme Court has kept the status quo for the moment.
The way to open relief for investors: Noida: In the Supertech Emerald Court case, the Supreme Court has opened the way for relief for investors. The Supreme Court has ordered to create an online portal, on which the investors will be able to register themselves for withdrawal of money. The Supreme Court’s decision will provide relief to about six hundred investors.
Order to drop two towers of the Emerald Court, located in Sector-93, were given by the High Court. After the matter was moved to the Supreme Court, the court had said that the Supertech had to deposit five crore rupees for the hearing. The Supreme Court then on November 9 said that Supertech deposits 10 million in the Supreme Court. At the same time, the investors who want the money back will be given back the money with a 14 percent interest rate. Now the court has ordered to create an online portal, on which investors will be able to make their registration for refund.
The two SuperTech towers were ordered by the High Court to be dropped, it has 857 flats. Of these, about six hundred flats were booked. Those who had deposited the money for the flat, after the order of the High Court, they were demanding money back. The price of flats in these two towers ranged from two crore rupees to three and a half crore rupees.
The case of the Supertech’s Noida Emerald Court’s Apex and Cyan Twin Towers, will get back with 14 per cent interest.