On August 28, Supertech's "illegal" Twin Towers were demolished in Noida after Supreme Court's order.
Supertech Limited on Thursday stated that the Twin Towers, which were demolished on August 28, belonged to the company and will be used for another residential project after getting the due approval from Noida Authority and consent from the homebuyers of Emerald Court.
In an exclusive interview to ANI, RK Arora, Chairman and Managing Director of Supertech Limited said that The Twin Towers Apex and Ceyane in Noida are a part of the Emerald Court Project at Sector 93A constructed on land allotted by Noida Authority.
"The building plans of the Project including the two towers were approved by the Noida Authority in 2009 which was strictly in accordance with the then prevailing Building byelaws," he said.
"No deviation from the Building Plan was made and the building was constructed after making full payment to the Authority. Now both the towers are demolished and we had paid the demolition cost of Rs 17.5 crore to the agencies involved in the demolition as per Supreme Court."
Mr Arora said that we will use that land with the approval of the authority and by taking the consent of the RWA, we will use that land as per the rules.
Mr Arora said, "We have refunded 95 per cent of the homebuyers of Apex and Ceyane twin towers. Remaining 5 per cent of the people who are left as people are coming to us, we are either giving them property or returning the money with interest and fully complying with the order of Supreme Court."
One of the housing project Ecovillage II located at Greater Noida of Supertech Limited, promoted by R K Arora is also facing insolvency proceeding.
Mr Arora said, "Only one project is facing insolvency proceeding and is confident enough that none of any other projects will come under insolvency proceeding as his focus is to deliver all his ongoing project in next 24 months timeline."
"Today 5,000 manpower is on-site working for the completion of the projects, and there is no fear of insolvency Proceeding on any other project, we hope that we will complete it timely, he added.
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