The Supreme Court on Monday asked real estate firm Jaypee to deposit Rs 2,000 crore before October 27 and asked for a plan within 45 days on how it will protect homebuyers interest.
The court also restrained directors and managing director of Jaypee Infratech and its holding company, Jaypee Associates, from travelling abroad.
The holding company will have to deposit the money.
We are not concerned about the company, we are only concerned about homebuyers, Chief Justice of India Dipak Misra said, handing over the management of Jaypee Infratech to insolvency resolution professional.
The insolvency resolution professional will have to come with a plan for more than 30,000 buyers, who have expressed concern that the insolvency proceedings agains…
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