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
Regarding the major default of JP Associates Ltd (JAL) regarding non issuance of flats or non-repayment of dues, the Supreme Court bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud issued certain directives on Wednesday (January 10).
On Wednesday the court studied an application filed by home buyers who have invested in flat in a project and made entire payment to JAL. This is a separate petition in which the petitioner says that he is not in a position to move where the project is. This has been included in the larger petition.
It was suggested to the court that the Amicus should create a web portal for JAL. Senior advocate Mukul Rohatgi submitted that JAL has nothing to do with the proceedings. RBI will file an affidavit stating details of JAL.
Senior Advocate Ranjit Kumar, argued that only 8 percent of homebuyers want their money back. “This case is only against Jaypee Infratech (JIL). Why are we dragging in JAL?”
At that the CJI said: “We are not concerned with anything but homebuyers. They must get either their money back or the flat. We do not at all intend for homebuyers that they go to NCLT and fight whole this litigation.”
With that the court gave the following directions:
- JAL shall file an affidavit stating number of housing project it has.
- Pawan Singh Aggarwal shall create a portal in respect of home buyers under JAL.
- The independent director needs to be present on every date
- Independent director need not to leave country.
- JAL should not create any third party interest in the properties.
The matter has been listed for February 5.
The original 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 had moved the Supreme Court seeking relief against a National Company Law Tribunal (NCLT) order which has stayed all court proceedings 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.