New Delhi, Jan 10: The Supreme Court on Wednesday asked the real estate major, Jaypee Associates
Ltd (JAL), to file an affidavit on how many housing projects are there across
the country of it and at what stages stage of construction.
A three-judge bench of the apex court, headed by Chief
Justice of India (CJI) Dipak Misra and also comprising Justices AM Khanwilkar
and DY Chandrachud, said, it would hear the RBI (Reserve Bank of India) plea to
initiate the insolvency proceedings at a later stage.
The top court also warned the JAL against any sale of assets of it and its associates against merger/de-merger or debt restructuring plan.
The apex court made it clear and said "if anyone does it then for them, the Tihar Jail is not far."
The RBI had on Tuesday knocked the doors of the apex court, seeking to initiate insolvency proceedings against the JAL.
The apex court asked the Amicus curiae (Friend of the Court) to create a portal where homebuyers can file complaint against the JAL -- so far the proceedings have been against Jaypee infrastructure Ltd.
The apex court fixed the matter for further hearing to February 5. UNI
The top court also warned the JAL against any sale of assets of it and its associates against merger/de-merger or debt restructuring plan.
The apex court made it clear and said "if anyone does it then for them, the Tihar Jail is not far."
The RBI had on Tuesday knocked the doors of the apex court, seeking to initiate insolvency proceedings against the JAL.
The apex court asked the Amicus curiae (Friend of the Court) to create a portal where homebuyers can file complaint against the JAL -- so far the proceedings have been against Jaypee infrastructure Ltd.
The apex court fixed the matter for further hearing to February 5. UNI
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