On August 28, Supertech’s “illegal” Twin Towers were demolished in Noida following a Supreme Court order.
Noida:
Supertech Ltd said on Thursday that the Twin Towers, which were demolished on August 28, belonged to the company and would be used for another residential project after due approval from the Noida Authority and consent from the home buyers of the Emerald Court.
RK Arora, Chairman and Managing Director, Supertech Limited, said in an exclusive interview to ANI that the Twin Towers Apex and Cayenne in Noida are a part of the Emerald Court project in Sector 93A, built on the land allotted by the Noida Authority.
“The construction plans of the project including the two towers were approved by the Noida Authority in 2009 in strict accordance with the then prevailing building bye-laws,” he said.
“There was no deviation from the building plan and the building was constructed after making full payment to the authority. Now both the towers have been demolished and we have paid Rs 17.5 crore to the agencies involved in the demolition as per the Supreme Court. The cost was paid.”
Mr. Arora said that we will use that land with the approval of the authority and will use that land according to the rules with the consent of RWA.
Mr. Arora said, “We have refunded 95 per cent home buyers of Apex and Ciene Twin Towers. The remaining 5 per cent people who are coming to us, we are giving them the property or returning the money with interest. And fully complying with the orders of the Supreme Court.”
One of Supertech Limited’s Greater Noida housing project EcoVillage II, promoted by RK Arora, is also facing insolvency proceedings.
Mr. Arora said, “Only one project is facing insolvency proceedings and is confident enough that no other project will come under insolvency proceedings as his focus is to deliver all his ongoing projects within a time span of next 24 months. “
“Today 5,000 manpower is working to complete the projects, and there is no fear of bankruptcy on any other project, we are hopeful that we will complete it on time,” he said.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)