Jaypee has been told to furnish 275 crores again by the end of December
To ensure that Jaypee refunds thousands of investors who have paid the real estate developers for flats near Delhi that are still not built, the Supreme Court today ordered that none of the promoters or directors of the company can sell any of their assets. The ban extends to assets owned by their immediate family members too. This group of 13 executives, who were present at today's hearing, was told, "Your wealth has gone up at the cost of home buyers. Now they can't destroy the lives of home buyers." The company had earlier been ordered to deposit 2,000 crores with the court so that flat-buyers could be reimbursed.