On March 25, the NCLT had declared Noida-headquartered realty major Supertech as insolvent while admitting a plea filed by the Union Bank of India over non-payment of its dues.
The order is said to impact over 25,000 homebuyers who are awaiting possession of their homes booked with the developer for several years.
The Supreme Court had ordered the demolition on August 31 last year as it had come up in violation of building norms. The top court had also rapped the local Noida Authority for approval of the project under its watch.
In its August 31 judgment, last year, the Supreme Court had ordered the demolition of twin towers in Noida.
The top court was informed that GAIL's NOC was required as there is a high pressure underground natural gas pipeline, which is passing at a distance of 15 metres and depth of 3 mets.re The court was also informed that the Defence Ministry will provide the explosives for the demolition.
"In compliance of the Supreme court order, Supertech has signed an agreement with Edifice Engineering for the execution of demolition of twin tower and made an advance payment to it for mobilisation of men, materials and machines to site as per this agreement," a Supertech spokesperson said.
A bench comprising Justices D.Y. Chandrachud and Bela. M. Trivedi said Supertech should do the complete refund to homebuyers, who filed the contempt petition, by February 28, and the other homebuyers who are not in court should approach it within a week.
The high court had directed the realty firm to deposit Rs 50 lakh, out of the outstanding Rs 1.79 crore, in the home buyer's account within a week to show its bona fide to the court.
A bench of Justices D Y Chandrachud and B V Nagarathna said that there is no substance in the application filed by Supertech Ltd and hence it is dismissed.
A special investigation team (SIT) probing the matter has found 26 officials of the NOIDA guilty in the case of which 20 have retired, two have died and four are still serving, the statement read.
Supertech has stated that it is not challenging the legality or substance of the August 31 judgment but only seeks a modification to save "crores of rupees".
The NCDRC order, to the extent that the company's MD is sentenced to 3-year imprisonment, shall remain stayed till the next date of hearing - October 4.
Supertech's chairman exuded confidence that the order will not have any adverse impact on the company as every project has its own independent RERA Account and cost center.
The chief minister had said on Wednesday that strict action will be taken against the guilty officials in the Noida twin towers case.
According to Supertech, of the 633 people who booked the flats initially, 133 have moved out to other projects, 248 have taken refunds and 252 home buyers still have bookings with the company in the project.
The two towers, Apex and Ceyane of Emerald Court Project of Supertech, together have 915 apartments and 21 shops. Of these, 633 flats were booked initially.
Noida has witnessed 9 new COVID-19 cases including one in Supertech society in Noida sector 74. All these cases have surfaced on Wednesday, an official said on Thursday. Following the new cases, the Supertech tower in Sec-74, Palm Olympia in Gaur City-2, other nearby areas have been sealed till 10 pm, April 3.
People who have bought homes at Supertech's Romano site here refuted the builder's claim that 200 flats were handed over to them last week, saying that only “three or four” families were given the keys.
The apex court took note of the report of advocate Gaurav Agrawal, who is assisting it as an amicus curiae, that there was a list of 164 home-buyers.
The court directed the builder to file a detailed affidavit by the next date of hearing on May 2 containing all the details sought.
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