SC Grants 3-Month Extension for Demolition of Noida's Supertech Twin Towers
The extension was given following a request by Edifice Engineering responsible for conducting the demolition.
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The Supreme Court on Tuesday, 17 May, extended the deadline for the demolition of Supertech's 40-storey twin towers in Noida till 28 August.
The extension was given following a request by Edifice Engineering that is responsible for conducting the demolition.
The Mumbai-based firm had sought the extension saying that more explosives will be needed than expected as the blasts will have to be carried out on an additional floor along with the basement.
The Noida authorities, however, had refused to extend the deadline, calling it a breach of the agreement.
Suprertech on 6 May informed the apex court that it does not have sufficient funds to process refunds to the home buyers.
The top court was informed that the erstwhile management of the firm has moved the National Company Law Appellate Tribunal (NCLAT) against the corporate insolvency resolution process and the matter is listed on 17 May.
(With inputs from IANS.)
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