Allow Cookies!
By using our website, you agree to the use of cookies
Keeping in mind the interest of home buyers, Supreme Court on Wednesday restricted the directors and the Promoters of Jaypee group from transferring or selling any asset or property without court’s permission. In case of non-adherence of this order they will be held liable for contempt of court. At the time of proceedings, eight independent directors and five promoters were present in the court.
Chief Justice Deepak Mishra said that “You have gone up at the cost of home buyers,” and directed the developer to behave like a good child and pay back all the dues.
The court accepted the plea of the company to receive the money in instalments. The company has to pay 400 crore in two instalments by December 14 and December 31 respectively and the rest of Rs 275 crore was deposited by Jaypee that day only.
Advocate Pawan Shree Agrawal was appointed by the court as amicus curiae and was asked to set up a web portal within a week which would contain the information including the cause of complaint for the harassed home buyers, so that the list of people who want refund and who want the flats can be ascertained.
Now for the further plea of home buyers the court has fixed the date of January 10 for the hearing and all the directors and promoters are directed to appear before the court again.
86540
103860
630
114
59824