In Brief
This case involved multiple writ petitions by homebuyers against Jaiprakash Associates Limited and the Union of India concerning the realization of deposit amounts from the company. The Supreme Court directed JAL to deposit Rs 2,000 crores in installments: Rs 275 crores immediately, Rs 150 crores by 13 December 2017, and Rs 125 crores by 31 December 2017. The Court also restrained all directors and their immediate family members from alienating or transferring their personal properties, with non-compliance exposing them to criminal prosecution and contempt of court. An Amicus Curiae was appointed to create a tracking portal for monitoring payments.
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