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SC asks JAL to deposit Rs 1,000 cr by June 15

SC asks JAL to deposit Rs 1,000 cr by June 15

New Delhi, May 16 (UNI) The Supreme Court on Wednesday ordered the realty firm Jaiprakash Associates Limited (JAL) to deposit an additional amount of Rs 1,000 crore to the Registry by June 15 for ensuring refund of money to hassled home buyers.



A division bench of Chief Justice Deepak Misra, Justices AM Khanvilkar and D Y Chandrachud said in the event of the deposit, the liquidation proceedings against JAL's subsidiary company, JIP Infratech Limited (JIL) will remain closed.

The bench also cautioned that if the amount is not deposited till June 15, then legal action will be taken against JIL.

Earlier, the apex court had ordered JP Infratech to deposit Rs 2,000 crore in the court's registry, but so far only Rs 750 crore has been deposited.

UNI XC SW 2225

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