SC aks sjaiprakash Associates Ltd to deposit ₹200 crore

NEW DELHI: The Supreme Court on Wednesday asked the embattled realty firm Jaiprakash Associates Limited (JAL) to deposit Rs 200 crore in two installments by May 10.

The bench headed by Chief Justice Dipak Misra asked the real-estate major to deposit Rs 100 crore by April 6 and the rest by May 10.

The bench, comprising justices AM Khanwilkar and DY Chandrachud, also asked the firm not to send any notices for default in payment of EMIS to home buyers who have opted for refund.

The top court asked JAL to submit a project-wise chart of home buyers seeking refund so that the amount can be dispersed on pro-rata basis. "At present we are concerned with the refund and will take later the issue raised by home buyers who want delivery of flats," the top court said.