Supertech gets extension till March 20 to deposit Rs 10 crore

NEW DELHI: The Supreme Court on Friday gave builder Supertech an extension until March 20 to deposit Rs 10 crore towards refunding buyers of homes at its twin tower project in Noida. The company sought an extension due to crunch caused by demonetisation, said Shoeb Alam, counsel for some of Supertech’s Emerald Court homebuyers. Supertech also asked for adjournment of the next hearing on January 11, which the court said should be filed that day.

The apex court directed Supertech in November to deposit Rs 10 crore by January 3 to be used for refunding buyers of its Emerald Court project, which was said to have been constructed in violation of norms. It had offered home buyers an option to wait till the disposal of the case.

However, all parties seeking a refund were unwilling to wait for the outcome and wanted a refund.

“We had asked for an extension of 12 weeks citing financial crunch due to demonetisation, but the court gave us a time of nine weeks to deposit Rs 10 crore,” said Keshav Mohan, counsel for Supertech.

National Building Construction Company ( NBCC) had submitted a report to the Supreme Court on November 8.