News: SC Defers Supertech Twin Towers Refund Plea by 3 Months-23-07-2026
The Supreme Court on Thursday deferred by three months its hearing on a plea for refunds to homebuyers of Supertech’s now-demolished twin towers in Noida, PTI reported.
A bench of Chief Justice Surya Kant and justices Joymalya Bagchi and V Mohana noted submissions that efforts were under way to satisfy the claims of buyers who have not opted for alternative allotment, and that three months were needed to explore other options.
A lawyer for a few homebuyers said they were not receiving refunds and that the last payment was made in 2024.
The court had earlier said buyers would be refunded on a pro-rata basis from the amount deposited by the Interim Resolution Professional (IRP). Supertech is facing insolvency proceedings under the IBC.
The towers at the Emerald Court Project in Sector 93A were brought down with explosives on August 28, 2022. On August 31 last year, according to the report, the court had ordered demolition of the twin 40-storey towers within three months for violating building norms in "collusion" with NOIDA officials. It had directed a full refund to buyers with 12 percent interest from the time of booking, and payment of Rs 2 crore to the RWA of Emerald Court for the harassment caused by the construction, which would have blocked sunlight and fresh air for existing residents.
