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SC asks Jaypee Associates to deposit Rs 200 cr by May 10

NEW DELHI:The Supreme Court on Wednesday asked Jaypee Associates — parent company of realty major Jaypee Infratech — to deposit Rs 200 crore by May 10 in two instalments along with a list of homebuyers who wanted refund of their money.

Tribune News Service

New Delhi, March 21

The Supreme Court on Wednesday asked Jaypee Associates — parent company of realty major Jaypee Infratech — to deposit Rs 200 crore by May 10 in two instalments along with a list of homebuyers who wanted refund of their money.

A three-judge Bench headed by Chief Justice of India Dipak Misra asked it to deposit Rs 100 crore by April 15 and the rest by May 10.

The Bench stayed all demand notices raised by the real estate company against the homebuyers seeking refund for un-delivered or delayed flats.

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