Supreme Court's big decision 2 days before Supertech's 'Twin Tower' collapse

The most controversial and popular building 'Supertech Twin-Tower' in Noida, adjacent to Delhi, will be demolished on Sunday, August 28. Two days before this, the Supreme Court has given a big relief to the buyers of 'twin-tower'. The Supreme Court on Friday said that home buyers of Supertech's 40-storey 'twin-tower' will be given full refund of their money.

The court has ordered the demolition of these 'twin-towers' located in the Emerald Court project in Sector 93A, Noida and the building is to be demolished on August 28. The top court also asked the interim resolution professional (IRP) of the firm facing insolvency proceedings to deposit Rs 1 crore in the apex court registry.

A bench of Justice DY Chandrachud, Justice AS Bopanna and Justice JB Pardiwala said that the home buyers of 'twin-tower' will get back the entire money deposited by them. However, for the time being, they will be paid out of Rs 1 crore, which will be deposited by the IRP by September 30.

As per the court's order last year, home buyers have to get their money back. Several contempt petitions seeking refund under this order are currently under hearing. The bench said that it will ensure that the home buyers of the twin-towers get their full refund as per the court's order dated August 31, 2021.

The bench of the Supreme Court said, "Meanwhile, in order to ensure that the home buyers get some refund of their dues under the judgment of this Court, we shall place the IRP in the registry of this Court by 30th September for an amount of Rs. Directs you to deposit the amount.