Surpeme court had asked Unitech to refund upto Rs 5 crore in 2 weeks and to deposit Rs 15 crores by September end to Gurgaon project investors. The firm will have to deposit Rs 5 crore with the apex court’s registry in the next two weeks and the remaining amount by the end of September, reported The Financial Express. The most recent one was in April where two managing directors – Ajay Chandra and Sanjay Chandra – were awarded three-year imprisonment for violating Punjab Consumer Disputes Redressal Commission’s order.
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Directing the company to deposit the money in two instalments of Rs 5 crore and Rs 10 crore, a bench of Justice Dipak Misra and Justice Uday Umesh Lalit said: “We are pained to see how flat buyers are harassed”.
The Apex Court has set the next date of hearing to August 17.
During the hearing, a number of investors were present in the courtroom and advocate Brajesh Kumar who was representing some of them told the bench that before the National Consumer Commission, Unitech Ltd had assured that they would hand over the possession of flats which was not cone. BSE has sought clarification from Unitech over this matter.
In-fact the company also said, the amount invested by customers can be better utilized in construction and completion of the pending projects. Senior Advocate Abhishek Manu Singhvi had argued in court last week that if the company had money to refund home buyers, it would have rather completed the projects and handed over flats to buyers.
The court on Wednesday ruled that Unitech shouldrefund the money of home buyers of its Burgundy and Vistas projects in Noida and Gurgaon respectively.
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The bench thereafter asked counsel appearing for the flat-buyers to furnish a list of people who wanted to get their money back from the company.
