‘We will not run away from our re­spon­si­bil­i­ties’

Com­pany chair­man RK Arora says Su­pertech is as­sess­ing the sit­u­a­tion

HT Estates - - FRONT PAGE -

RK Arora, chair­man, Su­pertech, talks to Jee­van Prakash Sharma about his project, Su­pertech Emer­ald Court, in which, as per a re­cent Al­la­habad High Court ver­dict, two tow­ers are to be de­mol­ished Out of 600 home­buy­ers in the two tow­ers, Apex and Ceyane, a ma­jor­ity want their money re­funded with 14% in­ter­est com­pounded an­nu­ally as di­rected by the Al­la­habad High Court. These home­buy­ers al­lege that you don’t want to re­fund the money and are avoid­ing their calls and e-mails. Why? That’s not cor­rect. The judg­ment has just come in. We are as­sess­ing the sit­u­a­tion. We have de­cided to ap­peal against the judg­ment in the Supreme Court as we are con­fi­dent that we have not de­vi­ated from the ap­proved lay­out plan by even a sin­gle inch. At the same time, we are also work­ing out a process to re­fund the money. My only re­quest to the home­buy­ers is that they should be pa­tient. We will not run away from our re­spon­si­bil­i­ties. You say you have not de­vi­ated from the ap­proved lay­out plan, but why did the Al­la­habad High Court say that you, in col­lu­sion with the Noida Author­ity, got a lay­out plan sanc­tioned which was not in ac­cor­dance with the Author­ity’s build­ing reg­u­la­tions and UP Apart­ment Act, 2010? I don’t want to com­ment on the judg­ment right now. We will present our case in the Supreme Court. We have been in the con­struc­tion busi­ness for the last 25 years with projects across cities and states and we have al­ways acted in ac­cor­dance with the law and the ex­ist­ing build­ing by-laws. Do you mean to say that the judg­ment is wrong? I think we couldn’t con­vey to the court our point of view. We will do it in the Supreme Court. RWA mem­bers of Emer­ald Court have made al­le­ga­tions of there be­ing gross vi­o­la­tion of fire safety norms; procur­ing of fake struc­tural de­sign cer­tifi­cates from IIT Roor­kee and var­i­ous other safety haz­ards in the two tow­ers. Some of them have been recorded by the Al­la­habad High Court judg­ment. What do you have to say in your de­fence? As I said, we strictly fol­lowed the build­ing by-laws and the Na­tional Build­ing Code norms and did not de­vi­ate an inch from the lay­out plan. We will an­swer all these al­le­ga­tions in the Supreme Court. How much money have the home­buy­ers in the im­pacted tow­ers paid and how much have you al­ready spent on the con­struc­tion of the two tow­ers? There are a to­tal of 857 flats, out of which about 70% were sold out, which makes it ap­prox­i­mately 600 flats. We have col­lected about ` 180 crore from the 600-odd home­buy­ers and con­struc­tion costs have come up to around ` 70 crore. How long will it take for you to get to the Supreme Court? We are tak­ing le­gal opin­ions and we will be do­ing it very soon.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.