SC asks directors of JAL to appear before it next week

The SC on Monday directed the non-institutional directors of infrastructure firm Jaiprakash Associate Limited (JAL) to appear in person before it next week and furnish details of their personal assets.

The SC’s direction came in the wake of its September 11 directive to the Jaypee Associates to deposit Rs 2,000 crore by October 27 to protect the interests of homebuyers and creditors. The court had on Nov 6 refused to allow the company to deposit to Rs 400 crore with its registry as against Rs 2,000 crore as directed earlier. On Monday, a bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud asked the directors to appear on Nov 22. It also appointed advocate Pawan Shree Agrawal, as amicus curiae and ordered setting up a web portal in order to enable the homebuyers of the Jaypee Infratech register their grievances.