New Delhi : The Supreme Court on Friday listed for final hearing on July 16 the pleas of hassled home buyers registered with Jaiprakash Associates (JAL) saying that it would exclusively deal with their grievances and the “capability” of realty firm to refund money to them.
A bench headed by Chief Justice Dipak Misra had earlier said that it would ask the National Company Law Tribunal (NCLT) at Allahabad to expeditiously decide JAL’s plea on restructuring of its subsidiary firm, Jaypee Infratech (JIL), if they deposit Rs 600 crore for refunding principal amount to home buyers who have opted out of housing projects.
“Let the matter be listed on July 16 for exclusively hearing the aspect of protection of rights of home buyers and the capability of Jaiprakash Associates (JAL) to pay the money,” the bench, which also comprised justices A M Khanwilkar and D Y Chandrachud, said.
At the outset, senior advocate F S Nariman, appearing for the real estate firm, said that JAL was ready with a plan to deposit Rs 600 crore with the apex court registry through cheques provided the company was given some liberty to arrange funds through banks.
The bench, once during the hearing, asked JAL to deposit Rs 475 crore by August 27 with a caution that non-compliance would force it to order jailing of its directors. However, later it adjourned the hearing to July 16.