Supertech Towers Case : Supreme Court Allows Disbursal Of Rs 1 Crore To 15 Homebuyers; Directs Builder's IRP To Depist Rs 1 Crore More
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The Supreme Court, on Friday, directed the disbursal of Rs. One crore that has been deposited by the Interim Resolution Professional (IRP) of Supertech Ltd with the Apex Court's Registry pursuant to the order dated 26.08.2022. The amount has been directed to be distributed to the 15 applicants on a
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- The Supreme Court, on Friday, directed the disbursal of Rs. One crore that has been deposited by the Interim Resolution Professional (IRP) of Supertech Ltd with the Apex Court's Registry pursuant to the order dated 26.08.2022. The amount has been directed to be distributed to the 15 applicants on a pro rata basis.
- disbursal ought to be made to the homebuyers strictly pursuant to the undertaking that if there is any outstanding loan, the amount shall be utilised for paying the same.
- The Bench was considering a contempt petition preferred by the flat buyers of Supertech alleging non-compliance with regard to the direction to pay refund to the flat buyers as per the main judgment dated August 31, 2021, wherein the Apex Court had ordered the demolition of the Company's twin towers for violation of building rule
- Case Title: Chandrani Banerjee v. R.K. Arora And Ors. CONMT.PET.(C) No. 151/2022 in C.A. No. 5041/2021]
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