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Supertech two towers were ordered to be demolished by the Supreme Court over grave violation of building norms.
Supertech Ltd chairman RK Arora said on Saturday they will file a review petition against the Supreme Court order to demolish the company’s two 40-storey residential towers in Noida as he stressed that the buildings were constructed according to the law and with approval of the competent authority. On Tuesday, the Supreme Court ordered the demolition of the two towers of Supertech’s Emerald Court project in Noida over grave violation of building norms. The court said the violation was a result of “nefarious complicity” between the Noida Authority and the real estate developer.
“While we respect the Hon’ble Supreme Court order, we have decided to re-present the matter before the Hon’ble Supreme Court in a review application as the towers were constructed as per the approval of the competent authority conforming to the Building bye-laws,” Supertech chairman RK Arora said in a statement, adding that Apex and Ceyane towers are not linked to or are part of any ongoing project of the company.
Supertech Group is developing 10 crore square feet across its projects and Apex and Ceyane towers only constitute a mere 6 lakh sqft which is 0.6 per cent of the total portfolio, he added. “While we have already refunded most of the customers in this project after the Hon’ble High Court, Allahabad decision passed in 2014 – we will further comply with the Hon’ble Supreme Court directions as per the order passed,” Arora said.
Arora also said that the Supremo Court order will not have any adverse impact on Supertech as every project has its own independent RERA Account and cost centre. “Supertech is a financially stable and strong group. Work is going on at all our project sites as scheduled. We would like to reassure all our customers, bankers, vendors and other stakeholders that we will deliver all our projects in the scheduled time frame,” Arora said.
A bench of Justice DY Chandrachud and Justice MR Shah said that the April 11, 2014, verdict of the Allahabad High Court, which directed the demolition of the two towers, does not deserve any interference. The bench said the construction of Supertech’s twin 40-storey towers with 915 flats and shops was done in collusion with Noida authority and the high court was correct in holding that view.
The Supreme Court bench directed that Supertech will have to demolish the towers at its own expense and complete it within three months under the supervision of the Noida Authority and an expert body such as the Central Building Research Institute. The top court also ordered that Supertech will refund money to all the existing homebuyers in Emerald Court’s Apex and Ceyane towers within two months, along with an interest of 12% per annum from the date of their deposits.
Source: Hindustan times
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