In a major development, the
Supreme Court (SC) has directed Supertech to refund the money to flat owners of
Apex and Ceyane towers in Noida, which are under threat of demolition.
The
Supreme Court has also ruled that Supertechmust return within 30 days the
principal amount paid by those buyers who have accepted its refund offer.
It has ordered the builder to
pay 14 % compound interest by October 30, 2014. The SC also asked Supertech to
allot another flat to allottees who did not want to get a refund and had agreed
to accept builders offer to opt for a flat in any other Supertech project.
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