Supreme Court orders demolition of two 40-storey towers of Supertech Ltd. at Noida

Shock to Supertech justifying Supreme Court order

Court orders return of 1000 investors of both towers with 12 per cent interest

Supertech will file a review petition against the order of the Supreme

New Delhi: The Supreme Court on Tuesday dealt a major blow to real estate company Supertech in a landmark judgment. The court has declared Supertech illegal, Apex and San, two 40-storey towers of the Noida Express-based Emerald Court project and ordered them to be demolished within three months.

In its order, the apex court said that the builder company would have to repay the full amount with 12 per cent interest to 1000 investors of the two towers. A bench headed by Justice DY Chandrachud passed the order. It has also been ordered to pay Rs 2 crore to the Residents Welfare Association.

It has been ordered to pay Rs 2 crore for harassment during construction. The apex court today ruled on the application of Delhi-NCSR's leading realty company Supertech Limited. It challenged the Allahabad High Court's order to demolish two 40-storey towers at the Emerald Court project in Noida.

The Allahabad High Court had ordered the towers to be demolished for violating the rules. The Supreme Court has also upheld the High Court order. During today's hearing, the apex court also upheld the Allahabad High Court's order to demolish two 40-storey towers built by real estate company Supertech in a housing project.

In its judgment, the court said that the illegal construction was the result of collusion between Noida Authority and Supertech officials. Following the ruling, realtor Supertech Ltd said in a statement that it would file a review petition against the Supreme Court's order to demolish the two 40-storey towers.