Embattled real-estate firm Unitech Ltd was today directed by the Supreme Court to deposit ₹15 crore by September-end to pay back investors who bought flats in its Gurgaon project but did not get possession on time.

“We feel pained,” a Bench of Justices Dipak Misra and UU Lalit said while directing the firm to deposit ₹5 crore within two weeks and ₹10 crore in the apex court registry by end of next month to pay back the amount to 38 investors. ‘How will you pay?’ “You tell us how will you pay? We will later consider whether interest will be paid to them (investors),” the Bench told senior advocate Kapil Sibal, representing Unitech. Responding to the query, Sibal said, “We appreciate the concern of customers. They can take alternative accommodation. We will pay the rent.”

The Bench shot back saying, “Will they move from rental to rental? Nothing is moving.” Sibal told the court that there should be some solution to the issue, but the Bench said, “You deposit the money. ... You deposit₹15 crore first. Let them get the principal amount.”

“We direct the appellant (Unitech) to deposit ₹15 crore in the registry of this court. They will deposit ₹5 crore in two weeks and rest amount of ₹10 crore will be deposited by end of September 2016,” the Bench said and listed the matter for further hearing on October 4.

Flats undelivered During the hearing, a number of buyers were present in the courtroom and advocate Brajesh Kumar, who was representing some of them, told the Bench that Unitech had assured the National Consumer Commission that it would hand over the possession of flats. But this was not done.

“Now, we want refund of the amount,” he said about the Unitech Vista project in Sector 70, Gurugram. Another buyer told the Bench that they had paid money to the firm on time and the company was scheduled to hand over the possession of flats in 2012, but had not done so till date.

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