In Brief
This writ petition concerned home buyers seeking recovery from Jaiprakash Associates Limited (JAL) for a total of ₹2,000 crores. The Supreme Court appreciated the home buyers' grievance and directed JAL to deposit the entire amount in phased installments: ₹275 crores immediately, ₹150 crores by 13 December 2017, and ₹125 crores by 31 December 2017. The Court also prohibited all independent and promoter directors from alienating personal assets or those of dependent family members, appointed an amicus curiae to oversee fund realization through a monitoring portal, and scheduled further proceedings for 10 January 2018.
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