SC asks Supertech to deposit investors’ money

SC asks Supertech to deposit investors’ money
08/09/2016 , by , in News/Views

On Tuesday, the Supreme Court has directed real estate developer Supertech to pay 10 per cent of invested money per annum as investment returns to 14 people who booked houses in Noida twin towers project, starting January 2015, and to clear any arrear within four weeks.

“You sink or die, we are not concerned. You will have to pay back money to homebuyers. We are least bothered about the financial status,” the court told the builder and directed it to submit a detailed chart of payment to 14 buyers at the next hearing on October 25.

Supertech said it’s already paying return on investment (ROI) to buyers. “We are giving homebuyers ROI on their payment. This will continue till the case is finalised,” said RK Arora, chairman at Supertech.

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