After a long wait of four years, a refund is going to 135 people who bought the house in the Supertech’s disputed Emerald Court Housing Complex in Noida. The Supreme Court on Monday ordered the developer to deposit 30 million rupees till November 30. These 135 home buyer will also get simple interest of 12% on their investment amount. Supertech has already deposited Rs 20 crore. The bench of Chief Justice Deepak Mishra, Justice AM Khanvilkar and Justice D.V. Chandrachud asked Rs 15 crore in two installments and one crore rupees of interest. According to the f order, Supertech will have to deposit Rs 7 crore by September 5 whereas balance will be deposited by the end of November.
Amicus Curiae Gaurav Agarwal told the court that he had a close conversation with the home buyers and 111 of them gave an affidavit (affidavit) to withdraw the amount of investment with a general interest rate of 12 percent annually. However, 24 Homebuyers want interest at 14 percent. At the same time, Supertech lawyer Keshav Mohan expressed his willingness to deposit Rs 21 crore under the scheduled time schedule till November 30. At the same time, the bench said that it will invite remaining 24 home buyers to refund the interest at the rate of 12 percent.