New Delhi: The Supreme Court (SC) on Wednesday ordered Unitech to return Rs 15 crore to home buyers over delays in delivering the Unitech Vistas project in sector-70 in Gurugram.
Thirty-eight home buyers moved SC seeking a refund after they alleged that the project is running at least three years behind the schedule month of delivery.
The apex court has directed Unitech to pay Rs 5 crore in the next two weeks and the balance by the end of September.
Next hearing in the case will be on October 4.
On Tuesday, shares of Unitech slumped 20% after the real estate firm expressed its inability before the apex court to refund money to the home buyers over its two delayed projects in Noida and Gurgaon.
The scrip tanked 20 per cent to Rs 4.92, its lowest trading permissible limit for the day, on BSE.
"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 told a bench of Justices Dipak Misra and U U Lalit on Friday.
More than two dozen home buyers of Unitech's 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 scheduled.
The consumer forum had asked the real estate firm to refund the money to home buyers with interest.
(With PTI inputs)
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