Business
Supertech does not have sufficient funds to make refunds to home buyers, SC told
The Supreme Court on Friday was informed that the embattled real estate firm Supertech Ltd. does not have sufficient funds to process refunds to home buyers who had purchased apartments in its 40-storey twin towers located in Noida and due to be demolished soon.
In August last year, the top court had ordered demolition of twin towers and ordered refund to the home buyers, who had purchased apartments.
Amicus curiae Gaurav Agarwal submitted before a bench headed by Justice D.Y. Chandrachud that the real estate firm does not have sufficient funds in its account to process refunds to home buyers.
Counsel for Supertech contended that it has engaged with the financial creditor Union Bank of India, to resolve the dispute in connection with payment of dues.
The bench, also comprising Justice Surya Kant, told Agarwal that a way out has to be found for the refund to the homebuyers.
Agarwal said as per Interim Resolution Professional (IRP), there are no sufficient funds in the accounts of the company for the refund. He added that there are 107 homebuyers who are yet to receive the refund and added that a report has been filed in a sealed cover as per the direction of the court.
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 May 17.
Senior advocate S. Ganesh, representing the erstwhile management of Supertech Ltd, submitted several rounds of meetings have been done so far with the bank and more are likely to take place to resolve the dispute over dues.
Agarwal added if the issue with the financial creditor is resolved, then the status of 107 home buyers out of over 711, will be back to what it was before the insolvency process was initiated.
The top court scheduled the matter for further hearing on May 18.
On April 4, the Supreme Court said it will protect the interest of Supertech’s 40-storey twin tower home buyers in view of the appointment of IRP in the insolvency proceedings against the real estate firm. The top court directed to file by April 15 their claims for refund of payments.
The realty firm had informed the top court that it will be filing an appeal against the order of the National Company Law Tribunal (NCLT) declaring it bankrupt on a plea filed by the Union Bank of India for non-payment of around Rs 432 crore worth of dues.
A note submitted in the top court by Agarwal said: “As per the information given by Supertech Ltd, out of 711 customers/units, the claims of 652 units/customers are settled/paid. 59 homebuyers still have to refunded the amounts. The principal outstanding would be Rs 14.96 crore.”
Business
New TVS Apache RR 310 Hits Indian Market at Rs 2.75 Lakh: All You Need to Know
TVS has introduced the 2024 edition of its flagship Apache RR 310 in India, starting at Rs 2.75 lakh (ex-showroom). The updated model brings several enhancements, including segment-first aerodynamic winglets integrated into the side fairing, aimed at improving stability and performance.
The latest version of the TVS Apache RR 310 comes with a starting price of Rs 2.75 lakh (ex-showroom) for the Racing Red model. However, this variant does not include the bi-directional quick-shifter. For those looking to add this feature, it will cost approximately Rs 17,000 extra. The 2024 lineup also introduces a new Bomber Grey color option, priced at Rs 2.97 lakh (ex-showroom), offering a stylish and performance-focused upgrade.
The 2024 TVS Apache RR 310 retains its 312cc single-cylinder, liquid-cooled engine with a 6-speed gearbox, but now offers improved performance. The updated model produces 37 bhp at 9,800 rpm and 29 Nm of torque at 7,900 rpm. TVS also claims that it accelerates faster than before, shaving 0.43 seconds off its 0-100 km/h time, making it a more exciting choice for riders looking for speed and agility.
The 2024 TVS Apache RR 310 keeps its familiar trellis frame, supported by upside-down front forks and a rear monoshock for improved handling. Braking is handled by disc brakes. It also comes with a 5-inch TFT display that offers Bluetooth connectivity and navigation.
The updated electronics package includes new features like tyre pressure monitoring, cornering ABS, traction control, and cruise control. While the overall design remains similar, it gets refreshed decals and is available in three colours: Bomber Grey, Racing Red, and Race Replica.
TVS has introduced two performance kits for the new Apache RR 310: the Dynamic kit, priced at Rs 18,000, and the Dynamic Pro kit at Rs 16,000. The Dynamic kit enhances the bike’s handling with fully adjustable suspension, a tyre pressure monitoring system, and a brass-coated drive chain. The Dynamic Pro kit, meanwhile, focuses on safety and stability, offering race-tuned dynamic stability control for better on-road performance. These upgrades allow riders to customize their experience for both performance and safety.
Business
Jio network down: users are facing problems
Some Jio users in Mumbai are experiencing network outages, causing the issue to trend on Twitter. According to reports on social media, the disruptions have affected specific areas in the city. One user claimed that the Reliance Jio IDC Data Centre caught fire, potentially causing service interruptions. The user tweeted, “Reliance Jio IDC Data Centre caught fire, some services down due to that.
The network of Reliance Jio, one of the leading telecom companies in India, has been down for the last 1 hour. So users are facing a lot of problems. Many have posted about this on social media and tagged Reliance Jio. Reliance Jio network is down since last 1 hour.
Due to this, many works of Jio users have been stopped. A user posted on X and informed that the Jio service has been shut down due to a fire in the IDC (data center). Repair work is going on here. The network will be restored soon. But Reliance Jio has not given any official information about this yet. Therefore, users are asking when the network will be restored.
Reliance Jio service has been discontinued. Most of the users have no signal in their mobiles. 20 percent reported internet connectivity disruption on Down detector. 14 percent people are facing problems in running Jio fiber. Reliance Jio’s website is also not working properly and users are unable to access the Jio app.
There are more than 10 thousand complaints on Downdetector around 12 noon. More outage issues have been reported from cities like Delhi, Lucknow and Mumbai. Users across the country are complaining about Jio service being down. Jio on X is also trending down. People are sharing memes for Jio.
Reliance Jio services have once again been suspended in many parts of the country. Today i.e. on 17th September it started from Mumbai, the financial capital of the country and now Jio is down in all the cities of the country. Earlier in May and June 2024 also, Jio services were suspended in Mumbai. Users are constantly complaining on social media about Jio being down but there is no concrete solution and assurance from the company yet.
Users on social media claim that Jio services have been suspended across Mumbai. There is a network problem for several hours. Many users have also complained about the broadband service. Outage tracker Downdetector has also confirmed Jio’s outage. According to Downdetector’s map, it has stopped in New Delhi, Lucknow, Nagpur, Cuttack, Hyderabad, Chennai, Patna, Ahmedabad, Kolkata, Guwahati.
More than 10 thousand people have complained on Downdetector in just 1 hour. On this site, 67 percent people complained about lack of signal, 20 percent about mobile internet and 14 percent about Jio Fiber.
Business
‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone
Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.
Trip To Vietnam For Apple
Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.
Now, with the latest launch, and X user has found a way to cut corners by taking a trip.
According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.
However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.
Savings Only iPhone 16 Pro
The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”
In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.
In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.
According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.
As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.
This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.
The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.
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