Above: An under construction project by Jaypee Associates/Photo Courtesy: Jaypee website
The Supreme Court on Wednesday (March 21) asked Jaypee Associates to deposit
a sum of Rs 200 crore in Supreme Court registry in two installments. It directed to deposit Rs 100 crore by April 10 and another Rs 100 crore by April 15.
The bench headed by Chief Justice Dipak Misra and comprising of Justices A M Khanwilkar and DY Chandrachud said that they were more interested in refunding the principal amount to the people and that they will not interfere with what people want, if they want a refund or want the possession of the house while acting on the plea filed by the investors’ who have invested in Jaypee against the bankruptcy process of Jaypee Associates.
The Court has directed the investors to create a website for convenience. The entire details of all the investors and their claims on the website should be put up on the website, the Court said.
—India Legal Bureau