Embattled real estate firm Unitech ltd was on Wednesday directed by the Supreme Court to deposit Rs15 crore principal amount by September-end to pay back investors who had bought flats in its Gurgaon project but not got possession on time.
"We feel pained," a bench of Justices Dipak Misra and U U lalit said while directing the firm to deposit Rs five crore within two weeks and Rs10 crore in the apex court registry by end of next month to pay back the amount to 38 investors.
"You tell us how will you payIJ We will later consider whether interest will be paid to them (investors)," the bench told senior advocate Kapil Sibal who was representing Unitech.
Responding to the query, Sibal said "We appreciate the concern of customers. They can take alternative accomodation. We will pay the rent."
The bench shot back saying, "Will they move from rental to rentalIJ 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 Rs15 crore first. let them get the principal amount."