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Jaypee Crisis: Supreme Court Directs JAL Directors Not To Alienate Their Personal Properties

Team SoOLEGAL 22 Nov 2017 3:09pm

Jaypee Crisis: Supreme Court Directs JAL Directors Not To Alienate Their Personal Properties

The Supreme Court on Wednesday directed 13 directors, including five promoters of embattled Jaiprakash Associate Limited (JAL), not to alienate their personal properties and asked the firm to deposit Rs 150 crore and Rs 125 crore by December 14 and December 31, respectively.

A Bench, comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud, accepted a demand draft of Rs 275 crore by the real estate firm.

The Bench further restrained the directors from alienating the properties of their immediate family members and cautioned any violation of its directive would hold them liable for criminal prosecution.

Meanwhile, the Bench appointed lawyer Pawan Shree Agrawal as amicus curiae and asked him to set up within a week a web portal that would contain all details, including grievances of the hassled homebuyers.

Senior advocates Mukul Rohatgi and Ranjit Kumar, who appeared on behalf of the directors, including independent ones and promoters, said they had filed affidavits in pursuance of earlier direction asking them to give details of their personal properties. [Inputs PTI]

 

Tagged: Supreme Court   Jaypee Crisis   Jaiprakash Associate Limited   JAL   Real Estate     
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