NEW DELHI: The Supreme Court has postponed the hearing on a plea demanding refunds for homebuyers of the demolished twin towers belonging to Supertech in Noida, granting an additional three months.
A bench led by Chief Justice Surya Kant, alongside Justices Joymalya Bagchi and V Mohana, acknowledged ongoing efforts to address the claims of homebuyers who declined alternative allocations.
The hearing was postponed as the bench was informed that time was needed to explore other options for fulfilling the homebuyers’ claims. A lawyer representing several affected buyers noted that refunds have not yet been issued, with the last payment made in 2024.
Previously, the Supreme Court stated that homebuyers of the demolished twin towers would be reimbursed on a pro-rata basis from the funds held by the Interim Resolution Professional (IRP), as the real estate company undergoes insolvency proceedings under the IBC.
The twin towers in the Emerald Court Project, located in Sector 93A of Noida, were demolished on August 28, 2022.
