SC tells Unitech to refund Rs 15 crore to investors in Gurugram project

The court has also asked Unitech to pay Rs 5 crore in 2 weeks and the remaining balance by end of September.

Zee Media Bureau

New Delhi: The Supreme Court on Wednesday directed real estate developer Unitech to refund Rs 15 crore to investors in a Gurugram project.

The court has also asked Unitech to pay Rs 5 crore in two weeks and the remaining balance by end of September.

The bench had on Friday asked the flat buyers to furnish details of those interested in seeking refund and how much amount from the builder.

The bench asked the flat buyers to furnish their details by August 17.

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 consumer forum has asked the real estate firm to refund the money to home buyers with interest.

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.