Supreme Court demands Jaiprakash Associate Limited (JAL) to provide details of its housing projects

Posted On : February 01, 2018

The Supreme Court on Wednesday directed realtor Jaiprakash Associate Limited (JAL),holding firm of Jaypee Infratech Ltd (JIL), to provide details of its housing projects in the country, saying the homebuyers should either get their houses or their money back. A bench however, refused to accord urgent hearing on a plea of the Reserve Bank of India (RBI) seeking its nod to initiate insolvency proceedings before the National Company Law Tribunal(NCLT)against JAL and said it would be dealt with at a later stage. The bench, meanwhile, asked to set up a second portal to take note of grievances of the homebuyers of JAL and said the grievance portal be "kept alive". Earlier, a similar portal was directed to be set up for the hassled homebuyers of JIL.