8 December 2022

New Delhi: The Supreme Court said on Friday that 15 home buyers of the now-razed twin towers of real estate firm Supertech in Noida will be refunded on a pro-rata basis from the Rs 1 crore deposited by the Interim Resolution Professional ( IRP ).

A bench of Justices DY Chandrachud and Hima Kohli directed that Rs 1 crore more be deposited by the IRP by December 8 and be disbursed to the 15 home buyers . The top court listed the matter for December 13 for a resumed hearing. The top court was hearing a batch of contempt petitions filed by home buyers seeking a refund as per the last year’s order from the court.

buyers from crore deposited by IRP
buyers from crore deposited by IRP

On August 26, the top court assured the home buyers of the razed 40 – story twin towers they will be refunded the full amount they had deposited with the builder. The apex court had asked the IRP of the firm, facing insolvency proceedings, to deposit Rs 1 crore with the apex court registry.

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