A Bench of Justices DY Chandrachud and AS Bopanna ordered that the payments be made by Monday next week (January 17).
“You cannot charge interest on ROI. You’re finding all kinds of reasons to not comply with the court’s orders. Make sure the payments are made by Monday or there will be serious consequences,” a Bench of Justices DY Chandrachud and AS Bopanna stated.
The homebuyers alleged 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.
This did not find favour with the Court which asked the builder to make payments by Monday.
The Supreme Court had, in August last year, 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.
Source: Barandbench
