SME Times News Bureau | 25 Apr, 2017
The Supreme Court on Monday asked real estate major Unitech to deposit
interest on the money paid by flat buyers at its project at Gurugram by
May 8, cautioning it that failure to deposit the interest may invite
attachment of its property.
Refusing more time to the realtor,
the bench of Justice Dipak Misra and Justice A.M. Khanwilkar said: "Let
these matters be listed for May 8 by which time amount as directed on
earlier occasions shall be deposited failing which this court may think
of attaching the property of the appellant company."
The top
court by its February 20 order had directed Unitech to pay interest at
the rate of 14 per cent to 39 flat buyers at its Vistas project but who
later chose to withdraw and sought both payment of their principal
amount and interest thereon. These flat buyers had paid Rs 16.55 crore
to the builder and had sought both the principal amount and the interest
thereon after builder did not handover the possession of the flats as
promised by 2012.
"Let the money come", the bench said as counsel
for the real estate major sought more time to deposit the interest
amount as directed by the court by its February 20 order.
The
court had said that interest would be calculated from January 1, 2010
till Unitech deposited the principal amount with the top court registry.
The court had on February 20 said that 90 per cent of the interest
amount that would be deposited with its registry would be disbursed to
the 39 buyers who have opted out.
The court while directing the
builder to deposit the interest has kept the question of rate of
interest and compensation to be paid open.
