SC asks Jaiprakash Associates to deposit Rs1,000 cr

New Delhi: The Supreme Court on Wednesday asked realty firm Jaiprakash Associates Limited to deposit an additional Rs 1,000 crore with its Registry by June 15 to provide refunds to the hassled home buyers. On submission of this amount, the liquidation proceedings against Jaypee Infratech Limited (JIL), a subsidiary of JAL, shall remain stayed, a Bench headed by CJI Dipak Misra said. The Bench said if there was any default in depositing the money by June 15, the statutory proceedings against JIL, which has been facing insolvency proceedings, shall proceed. PTI