Home / Companies / SC tells Supertech to deposit Rs5 crore compensation for home buyers

New Delhi: The Supreme Court on Tuesday directed real estate developer Supertech Ltd to deposit 5 crore by 25 July as part of compensation to be paid to home buyers in its Emerald Court project in Noida.

The court had earlier barred the sale or transfer of flats in Supertech’s 40-floor towers in the project.

A bench comprising justices Dipak Misra and Rohinton F. Nariman also hinted that the court could ask for an assessment of alleged violation of construction norms.

In 2014, the Allahabad high court had ordered demolition of the project after it found that fire safety norms were not followed. Subsequently, the apex court stayed the demolition.

The court is also looking into allegations of irregularities by the Noida Development Authority in granting permissions to the project. The court will hear the case next on 27 July.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Recommended For You
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsFeedbackRedeem a Gift CardLogout