Major setback to Supertech: Allahabad HC orders demolition 40-storey towers in Noida

Noida: In a major blow to realty major Supertech, the Allahabad High Court on Friday directed the Noida Authority to demolish two 40-storey towers in Sector 93 A, Noida, said a TV report. According to CNN-IBN, the court also directed the prosecution of officers of Noida Authority and Supertech for carrying out the illegal construction. They have also been asked to return the money to the investors at an interest rate of 14 per cent. The towers whose demolition has been ordered by the court are a part of the Emerald Court Project of the Supertech Group. The project at Taj Expressway is the largest project of the group till date. To be built on an area of 70000 square metre of prime land and cost of 750 crore, the construction of this project is in full swing. Emerald Court Pis a multi-storied project consisting of 15 towers out of which two towers are centrally air-conditioned. It has five towers - Aster, Aspire, Bluestone and Emperor. Supertech has decided to challenge the high court's order in the Supreme Court.