Jaiprakash Associates case: Big relief for homebuyers, Supreme Court orders firm to deposit Rs 200 crore, sets deadline
Jaiprakash Associates case: The chief justice also expressed concern for the Jaiprakash Associates homebuyers and said that the court wants to help them in getting their flats or in getting their money back. It may be noted that the amount would be distributed among the home buyers seeking refund on pro rata basis. The court also stayed all notices for demands raised by the developers to the home buyers seeking refund of their money.
Jaiprakash Associates case: In the case related to Jaiprakash Associates, the Supreme Court today directed the real estate firm to deposit Rs 200 crore with the court registry by May 10. Image source: Reuters