The Supreme Court on Monday said it would hear the Supertech Emerald flat buyers case in August for its final disposal.
Earlier in November 2016, the apex court had directed the real estate firm Supertech Builders to deposit Rs. 10 crore to its registry so that the people who have invested in the project do not get discouraged.
The firm got into a legal battle in April 2014, when the Allahabad High Court gave order to demolish the company's 40-storey twin towers in Noida.
The firm then challenged the high court's order in the apex court.
It happened when a fall in prices of the real estate sector was observed in the recent past, attracting many people to invest in 'cost-friendly' homes.
The builders took money but failed to deliver on time, thus inviting legal cases against them.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app