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By PTI
NEW DELHI: The Supreme Court announced today for the last hearing on July 16 the pleas of troubled home buyers registered with Jaiprakash Associates Limited (JAL) saying that It would deal exclusively with their grievances and a cabinet headed by Chief Justice Dipak Misra had previously stated that he would be asking the Allahabad National Corporate Law Tribunal (NCLT) to quickly rule on the matter. JAL's advocacy for the restructuring of its subsidiary. company, Jaypee Infratech Limited (JIL), if it deposits Rs 600 crore to repay the principal amount to home buyers who chose not to participate in housing projects.
"Leave the case on July 16 to hear exclusively said the judge, which also included judges AM Khanwilkar and DY Chandrachud.
At the beginning, senior counsel FS Nariman, who was appearing for the real estate company, said that JAL was willing to deposit 600 crore rupees at the registry of the court of first instance through checks, provided that the bank has the opportunity to obtain funds from the banks. once during the hearing, asked JAL to deposit Rs 475 crore by the month of August.
However, later he adjourned the hearing on July 16.
He stated that Rs 750 crore was deposited by JAL at the trial court.The register and Rs 600 crore more would be required to pay a principal sum to homebuyers who wanted a refund of their investment.
The senior lawyer born AM Singhvi, comparing for Dalmia Cement, said the company was providing cement to the real property fi Earlier, the apex court had suggested that JAL pay Rs 600 crore, instead of Rs 1,000 crore ordered earlier, to repay the principal amount to harbaded homebuyers.
Prior to that, she ordered JAL to deposit 1,000 crore, in addition to Rs 750 crore already deposited, by June 15, to reimburse homebuyers who had wished to withdraw from her various housing programs. [19659003] "This case (homebuyers) can be eliminated if they (JAL) deposit Rs 600 crore for repayment of the principal amount.We will ask the NCLT to decide the petition of the company ( of JAL), "said the bench.
Lawyer Pawan Shree Agrawal, who helps the court as an amicus curiae, said that homebuyers request for refund, must be paid Rs 1,379 crore and up to now Rs 750 crore were deposited at the registry of the apex court, leaving a deficit of nearly Rs 650 crore to repay the main sum to them.
Senior Lawyer Ajit Sinha, appearing for house buyers including a Chitra Sharma, had stated that the court had ordered the real estate company to deposit Rs 2,000 crore and only Rs 750 crore was deposited and, therefore, it was Was acting in a case of nonconformity of the order.
House buyers had moved the apex court stating that about 32,000 people had booked apartments and were now paying down payments.
The plea also indicated that hundreds of homebuyers were dropped after the NCLT on August 10 last year, the IDBI Bank's plea to initiate insolvency proceedings against the indebted real estate company for alleged default of a loan of Rs 526 crore.
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