The top court appointed advocate Pawan C Aggrawal as amicus and asked him to submit a detailed list of all the projects affected, and one of those who wished a refund, and those who wanted flats.
The Supreme Court on Friday denied bail to Sanjay Chandra, a promoter of real estate giant Unitech, and assured home buyers that they would get their dues.
The bench of Chief Justice of India Dipak Misra and Justices AM Khanwilkar and DY Chandrachud assured home buyers that their money would be refunded, or in the event they still wanted their property, it would be given to them in time.
The top court appointed advocate Pawan C Aggrawal as amicus and asked him to submit a detailed list of all the projects affected, and one of those who wished a refund, and those who wanted flats.
Chandra’s counsel submitted that unless his client got bail, none of the assurances would be fulfilled.
“Please grant me interim bail so that I may solve these issues. I cannot do it if I am in judicial custody,” he said.
The counsel submitted that he had already deposited Rs 20 crore for the registry so far and was willing to submit a road map detailing how he would refund the money to the homebuyers over a period of two years.
The court, however, refused to budge and directed Unitech to refund the money to home buyers before the current financial year ended.
Chandra and his brother Ajay had moved the top court against a Delhi High Court order that had canceled their three-month bail.
The owners of the real estate firm were arrested for taking money for the project in Gurugram that never fructified.
Unitech Vistas, a project with 1,265 apartments in Sector 70 of Gurugram.
The project was launched in 2009 and scheduled to be delivered to the prospective homebuyers in December 2012.
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