Supertech issued notice by Delhi High Court for failing to pay EMIs subvention payment plan
New Delhi: Delhi NCR-based real estate player Supertech has been issued a notice by the Delhi High Court as it failed to pay EMIs under a subvention payment plan. The notice, which has been issued to RBI and some banks also, pertain to subvention plan in three residential projects in Gurugram.
About 200 home buyers of the three housing projects approached the Delhi High Court saying that the builder has not paid the EMIs under the subvention plan. The Court admitted the plea of the homebuyers on 3 November. On 26 November, the Court issued notices to Supertech, RBI and some of the banks associated with the deal.
The home buyers have alleged that the three projects are far from completion even after sufficient time has elapsed since the projects were announced by the builder and payment were collected from them.