Jaypee Insolvency: SC Warns Against Transfer Of Personal Assets, Asks To Deposit Rs 275 Cr By Dec
In a fresh jolt to Jaiprakash Associates Limited, the Supreme Court has warned the company’s 13 directors against transferring of their or their family members’ personal assets. The SC also rejected the company’s plea to pay the Rs 2,000-crore penalty in installments by June 2018. The Bench said that it held the homebuyers' fate paramount, and, therefore, like a 'good kid', Jaypee should deposit the entire amount by the end of the year, failing which they would be pulled up for criminal charges. The next date of hearing is scheduled for January 10, 2018.