Business Standard

Jaypee Associates directors face SC heat

The Bench had asked the firm to consider depositing at least Rs 1,000 crore by Monday with its registry

Perturbed by Thursday's order, the CJI said there were hundreds of matters listed in the Supreme Court daily and if the orders were passed like this, then the SC cannot function
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Perturbed by Thursday’s order, the CJI said there were hundreds of matters listed in the Supreme Court daily and if the orders were passed like this, then the SC cannot function

Press Trust of India New Delhi
The Supreme Court on Monday directed the non-institutional directors of infrastructure firm Jaiprakash Associates (or Jaypee Associates) to appear in person before it next week and furnish details of their personal assets. The court’s direction came in the wake of its September 11 directive to the firm to deposit Rs 2,000 crore by October 27 to protect the interests of homebuyers and creditors.

The court had on November 6 refused to allow the company to deposit Rs 400 crore with its registry as against Rs 2,000 crore as directed earlier.
 
A Bench of Chief Justice Dipak Misra and Justices A M

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