The demolition of the Supertech twin towers in Noida is likely to not meet the 22 May deadline as the firm hired to carry out the operation has sought an extension till 28 August, citing technicalities.
Mumbai-based Edifice Engineering, the firm hired to demolish the twin towers, said that more explosives will be needed than expected earlier, as the blasts will have to be carried out on an additional floor along with the basement, India Today reported.
However, the Noida Authority has refused to extend the deadline, calling it a breach of the agreement, according to India Today.
Meanwhile, Supretech told the Supreme Court on 6 May that the it does not have sufficient funds to process refunds to home buyers who had purchased the apartments.
The bench, comprising Justice Surya Kant, told Supertech that a way out has to be found for the refund to the homebuyers.
The top court was informed that the erstwhile management of the firm has moved the National Company Law Appellate Tribunal (NCLAT) against the corporate insolvency resolution process and the matter is listed on 17 May.
(With inputs from IANS and India Today.)
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