NEW DELHI: “Builders only understand the colour of money or a jail term,” said the Supreme Court on Thursday as it held a real estate firm guilty of contempt for wilfully not complying with its order and imposed a fine of Rs 15 lakh on it.

The top court directed that Rs 15 lakh be deposited by real estate firm Ireo Grace Realtech Pvt Ltd to National Legal Service Authority and Rs two lakh to the home buyers towards the cost of litigation, whose refund was not paid as directed by the top court.

A bench of Justices DY Chandrachud and M R Shah noted that on January 5 it has affirmed the last year verdict of National Consumer Disputes Redressal Commission (NCDRC) dated August 28 directing refund with 9 per cent interest.

“We have directed you on January 5 to pay the refund amount within two months. Then you (builder) filed a plea seeking modification of the order, which we dismissed in March and directed you to pay the money within two months to the home…

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