Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

SC tells Unitech to pay interest to flat buyers

by | May 25, 2021

supreme courtNew Delhi, (IANS) : The Supreme Court on Monday asked real estate major Unitech to pay interest to 39 flat buyers who chose to withdraw after the builder’s failure to deliver flats as promised.

The matter concerns the owners who booked flats in Unitech’s Vistas project in Gurugram in Haryana.

Justice Dipak Misra, Justice A.M. Khanwilkar and Justice Mohan M. Shantanagouder gave the builder eight weeks to deposit the interest at the rate of 14 per cent to the top court’s registry.

The interest would be calculated from January 1, 2010 till Unitech deposited the principal amount.

The court said 90 per cent of the interest amount that would be deposited with its registry would be disbursed to the 39 buyers who have opted out.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

Once valued at USD 22 billion, Byju’s is now worth ‘zero’

Once valued at USD 22 billion, Byju’s is now worth ‘zero’

New Delhi: In what could be a shocker to many, edtech firm Byju’s, which was once valued at $22 billion, is now worth zero, according to a research note by financial firm HSBC. HSBC has assigned zero value to investment company Prosus’ nearly 10 per cent stake (or...

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *