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Above: Flat buyers under the banner of Jaypee Aman Owners Welfare Association shouting slogans during a demonstration demanding for a judicial probe for delay in allotment of their pre-booked flats in New (file picture).Photo: UNI

The Supreme Court bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud on Monday (April 16) was told by Amicus Curiae, Mr Gaurav Aggrawal another IA gas been filed in the Chitra Sharma vs Union of India case and that another Rs 100 crores will come by May 10.

The respondent submitted that entire turn of events as to how the bidding was done and how the allotment of the houses was done.

This matter is pending only because of the interest of the home buyers. Don’t allow my bid, but at least look into my bid once, submitted by one of the counsel for the respondents. There is a statutory prohibition under the Act. Matter listed on May 11.

Liberty granted to finalise the scheme.

The petition is antagonistic towards the insolvency proceedings against Jaypee Infratech, giving time to other home buyers to file their petitions and join the proceedings. Earlier, a group of Jaypee Infratech home buyers moved the Supreme Court, seeking relief against a National Company Law Tribunal (NCLT) order which stayed the proceedings of other courts against the company, including those pending before the consumer courts.

They also urged the apex court to declare home buyers as ‘secured creditors’ to help them get first right on the company’s asset in case of insolvency.

The court had observed on the last date: “As our order for deposit of Rs 2,000 crores has not been complied with, we intend to pass the following directions: (a) JAL (Jai Prakash Associates Ltd.) shall deposit a further sum of Rs 200 crores in two installments, as agreed by the Managing Director who is present in Court today. The first instalment of Rs 100 crores shall be deposited by April 15 and the second instalment of Rs 100 crores shall be deposited by May 10; (b) It is submitted by Mr. Pawan Shree Agrawal, learned amicus curiae that as per his portal an amount of Rs 1,300 crores, at present, is required to be refunded towards the principal sum for those home buyers who, as of today, seek refund. The figure of Rs.1300 crores is as per the record of JAL.

In view of the aforesaid, we would require Mr. Agrawal to prepare a project wise Chart indicating the number of persons in respect of that project and the stage of completion of the respective projects so that appropriate order can be passed for disbursement of the amount on pro-rata basis to the home buyers; (c) Mr. Agrawal, learned amicus curiae shall keep the portal operational. However, the requests of only those persons on the portal who have sought refund, as of today will be considered at this stage; (d) The submission of the home buyers who are seeking refund is that the developer is making demands towards monthly installments. We direct that no demand towards WP(C)No.744/17 outstanding or future installments shall be raised by the developer to the flat buyers who have, as of today, expressed the option to obtain refund. The demands raised by the developer in respect of the home buyers who have already opted for refund till today, shall remain stayed; (e) The IRP(Interim Resolution Professional) appointed by Supreme Court may proceed to finalise the resolution plan but the same shall be implemented after taking leave of this Court.”

—India Legal Bureau

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