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New Delhi, Jan 17 The Supreme Court on Monday told Supertech to execute the agreement with a building demolition firm, finalised by Noida, within a week, to pull down its two 40-storey towers.In August last year, the top court had ordered the demolition of Supertech twin towers in Noida.Senior advocate Ravindra Kumar, representing the authority, submitted before a bench headed by Justice D.Y. Chandrachud and Surya Kant that demolition agency, Edifice Engineering, has been finalised to carry out the demolition of towers.Senior advocate Parag Tripathi, representing Supertech, submitted his client would require additional two weeks to obtain the mandatory no-objection certificates (NOC) in connection with the demolition process, for example NOC from the Fire Department to store explosives to pull down the structures.Opposing Tripathi, Ravindra Kumar said the real estate firm can sign the agreement with demolition agency, and the process to obtain NoCs can carry on. He said one week is sufficient to sign the agreement.Tripathi insisted that the demolition firm will seek NOCs of different agencies and urged the top court to grant two weeks to sign the agreement with the demolition agency. However, the bench pointed to the last year order directing demolition of the towers and told the counsel that obtaining NOCs would not be an uphill task.After a brief hearing in the matter, the top court told Supertech counsel to sign the agreement within a week and scheduled the matter for further hearing after two weeks.Another counsel, representing Supertech, informed the top court that the real estate firm has worked out the money which is to be given to each home buyer. Counsel asked the home buyers to give it their RTGS particulars and the transfer of the money will be done within a day.As advocate Sumit Agarwal, appearing for nine home buyers, submitted that Supertech is only paying to those home buyers who have filed a contempt petition in the top court, the bench said it will take up this matter on Friday.On Wednesday, the Supreme Court warned Supertech of "consequences" over the non-payment of refund to home buyers, who had paid for flats in two 40-storey towers and also not make any deductions, which had not been ordered by the top court.The bench said it will send the directors of the real estate firm to jail, as interest cannot be charged on return of investment. "You are looking for all sorts of reasons to not comply with the order of the court... ensure payments are made by Monday," it said.In its August 31 judgment, the Supreme Court besides ordering demolition of Supertech twin towers in Noida and refund for the flat purchasers, ordered prosecution of errant NOIDA and real estate company officials under Section 49 of Uttar Pradesh Urban Development (UPUD) Act for their "nefarious complicity", which resulted in the construction of towers.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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