SC asks Jaypee Associates to deposit Rs 200 crore

NEW DELHI: The Supreme Court, on Wednesday asked Jayprakash Associates to deposit Rs 200 crore to refund principal amount to home buyers who are opting out of Jaypee housing projects. The amount which is to be deposited by May 10, is in addition to the Rs 550 crore Jaypee has already deposited.


Jaypee has been asked to pay the first installment of Rs 100 crore by April 15, and the second one of the same amount by May 10.

The apex court said this refund would be made to all those who had registered with the amicus curiae's portal seeking refund by today and the list of refund seeking home buyers would not be expanded.

Jaypee had offered to construct all flats, including those booked by the refund seekers, within a specified time and said once flats are ready it would buy it back from the refund seekers. However, the court did not go into the new offer and told interim resolution professional (IRP) that its and NCLT insolvency proceedings against Jaypee Infratech would be subject to SC orders.


Stay informed with the latest Business News on Times of India. Explore the list of Bank Holidays, stay informed about Budget 2025, discover the new Income Tax Slabs, and use the Income Tax Calculator for hassle-free tax planning.

Unlock Investment Potential: Enroll in ET's Stock Valuation Workshop - Batch 3. Secure Your Spot Now!