The apex court directed Supertech to pay 10% per month of the invested amount from 5 January 2015 to 17 home buyers, who are before the court, within four weeks. Senior advocate Rajeev Dhawan, appearing for Supertech, said the apex court “cannot act like a banker” and has to follow principle of equality. To this, the bench asked why Supertech was not giving back the money to all the investors. On 27 July, the court asked NBCC to visit the site of the twin towers and submit a report on alleged violations. The apex court had on 16 February 2015 directed Supertech to refund money to the flat owners, saying, “Developers can’t take investors for a ride.”

Source: Mint September 06, 2016 13:52 UTC