The supertech limited in the case of Supertech Ltd v/s Emerald Court Owner Resident Welfare Association, informed the Supreme Court about it’s agreement to refund amounts due and payable to the homebuyers who had bought flats without any further delay.
Advocate Ravinder Kumar, appearing on behalf of the NOIDA authority stated that the agency which is to carry out the work of demolition has been finalized in consultation with CBRI.
Advocate Parag P Tripathi, appearing on behalf of the Supertech Limited, submitted that there is no objection to the agency which has been finalized and that the developer would be applying for all necessary NOCs within a period of one week.
The division bench of Justice D.Y. Chandrachud and Justice Surya Kant noted that it has been agreed that the admitted amounts which are due and payable according to Supertech Limited shall be paid over to the flat buyers immediately without prejudice to their rights and contentions in the contempt petitions.
The court said that the flat buyers may provide their RTGS details so as to facilitate electronic transfer of funds to their accounts.
The court added that the applications shall be duly marked to the NOIDA authority for information. The contract shall be executed no later than within a period of one week from today.