SLP(C).....CC No. 9763/2014 and SLP(C)...CC No. 11410/2014. Case: Rana Sherwani Vs Supertech Ltd.. Supreme Court

Case NumberSLP(C).....CC No. 9763/2014 and SLP(C)...CC No. 11410/2014
Party NameRana Sherwani Vs Supertech Ltd.
JudgesR.M. Lodha, C.J., Kurian Joseph and Rohinton Nariman, JJ.
IssueProperty Law
Citation2014 (9) SCALE 60
Judgement DateJuly 30, 2014
CourtSupreme Court

Order:

  1. Permission to file special leave petition is granted in the course of arguments, our attention was drawn by Mr. Sameer Parekh, Learned Counsel for the Petitioners to the letter dated 19.4.2014 sent by the builder/respondent No. 1 to the affected allottees of Apex & Ceyane Towers. Learned Counsel submits that in pursuance of the above letter, the Petitioners have exercised the second option and expressed their desire to swap with some other unit in any other project of the Respondent No. 1. The letter dated 19.4.2014 reads as follows:

    SUPERTECH
    Date: 19th April, 2014.

    To

    All customers of Apex & Ceyane, Sub: Options offered by M/s. Supertech Limited to the affected customers of Apex and Ceyane Towers. Dear All,

    In view of the orders dated 11.4.2014 passed by the Hon'ble High Court, 3 Allahabad, the Company is offering the following options to its buyers:

  2. If the buyer wants refund of his deposited money, the Company shall refund His/her received consideration along with 14% interest compounded annually on such consideration.

  3. If the buyer wants to swap with some other unit in any other projects of the Company, then the Company shall shift that Buyer to that Project duly considering the consideration received from the buyer till date, in proportion to the total cost of the unit in his/her allotment document, the percentage of which shall be applied on the rack rate price of Apex/Ceyane as on date to arrive at the credit value for the swapping in the some other project of Supertech.

  4. Buyers who want to have their own flats in Apex/Ceyane Tower shall continue with the project. The buyers are requested to exercise any of the above mentioned options by or before 30th April, 2014.

    Thanking you,

    Yours truly,
    sd/-
    (R.K. Arora)
    CMD

  5. Mr. Ravindra Srivastava, learned senior counsel for the Respondent No. 1 submits that the Respondent No. 1 is fully committed to abide by the letter...

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