The Supreme Court on Thursday warned the Chairman and directors of reality major Unitech Hi-tech Developers Ltd that they will be liable for contempt if the terms of settlement they have entered into with three home buyers, who are yet to get their flats, were not honoured.
A bench of Justices Dipak Misra and C Nagappan, which disposed of the appeal of home buyers, granted them liberty to approach the court if the terms agreed upon in three memorandums of settlement were not adhered by the firm.
Senior advocate Abhishek Manu Singhvi, appearing for the realty firm, said the group had entered into the settlement agreement with the three buyers and agreed to give alternate plots to their satisfaction in Burgundy towers in Noida. He said that Rs 5 crore which the firm was asked to deposit with the court should be transferred to Rs 15 crore directed to be deposited in another case concerning the group.
The bench, agreed to the contention of the senior counsel and directed the registry to deposit Rs 5 crore with the Rs 15 crore directed to be paid in another case related to Unitech's Vistas project.
The bench's order came during the hearing of a plea filed by Unitech against National Consumer Disputes Redressal Commission's (NCDRC) October 12, 2015 order which directed the firm to pay compensation and litigation costs for delay in handing over three flats in project Burgundy in Sector 96 of Noida in Uttar Pradesh.