New Delhi: The Supreme Court on Wednesday directed real estate firm Unitech Ltd to deposit Rs 15 crore principal amount by September-end to pay back investors who had bought flats in its Gurgaon project but not got possession on time.
"We feel pained," a bench of Justices Dipak Misra and U U Lalit said while directing the firm to deposit Rs five crore within two weeks and Rs 10 crore in the apex court registry by end of next month to pay back the amount to 38 investors.
Since January 2015, As many as 1700 complaints have been filed against Unitech in the National Capital Region only.
Responding to the query, Kapil Sibal, who is fighting the case for Unitech, said "We appreciate the concern of customers. They can take alternative accommodation. We will pay the rent." The bench shot back saying, "Will they move from rental to rental? Nothing is moving."
"I am not very hopeful. I don't think these guys are afraid of facing any courts," Saurabh Agarawal, Unitech buyer told CNN-News18.
Sibal told the court that there should be some solution to the issue but the bench said, "You deposit Rs 15 crore first. Let them get the principal amount."
"We direct the appellant (Unitech) to deposit Rs 15 crore in the registry of this court. They will deposit Rs five crore in two weeks and rest amount of Rs 10 crore will be deposited by end of September 2016," the bench said and listed the matter for further hearing on October 4.
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.
(With inputs from PTI)
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