SC directs Unitech to deposit Rs 15 cr to home buyers in Gurugram project

NEW DELHI: The Supreme Court on Wednesday directed the Beleaguered real estate firm Unitech Ltd. to refund Rs 15 crore to 34 investors in Gurugram’s Vistas Project. While issuing the order, The apex court has asked Unitech to pay Rs 5 crore in 2 weeks and balance 10 crore by the end September. Last week, the court had indicated that the firm will have to pay the money back to investors and asked the flat buyers to furnish details of those interested in seeking refund and how much amount from the builder. "We don't have money. If we had money, we would have constructed the flats and buildings and given to them," senior advocated A M Singhvi, the counsel for Unitech Ltd, had, last week, told the court. More than two dozen home buyers of Unitech's housing projects in Noida and Gurgaon have approached the National Consumer Disputes Redressal Commission (NCDRC) after the builder failed to give them possession of the flats as per the scheduled. The apex court had last month asked the company to deposit an interim penalty of Rs 5 crore with the court registry after the firm challenged an order of the consumer forum which had asked the developer to pay Rs 5 crore penalty to three buyers of its Burgundy project. The court had said that the penalty deposited with the court will be awarded to the buyers or returned to Unitech, depending on the outcome of the case. (With PTI inputs)