SC asks Jaypee to deposit Rs 100 crore by May 10

New Delhi: The Supreme Court today directed realty firm Jaiprakash Associates Limited (JAL) to deposit 100 crore rupees with its registry by the 10th of next month.

The counsel for the firm told the bench, headed by Chief Justice Dipak Misra that it had already deposited 100 crores on Thursday in pursuance of an earlier order.

The top court had, last month, asked the JAL to deposit 200 crores with its registry in two installments for paying back home buyers, who have opted for refund instead of getting possession of flats.

The firm today also sought to consider its revival proposal, saying it has been completing 500 houses per month.

The bench directed the Insolvency Resolution Professional to consider the representation of JAL on revival plans as per law.

Facebook Comments