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  Business   Companies  22 Nov 2017  SC restrains Jaypee directors from selling personal properties

SC restrains Jaypee directors from selling personal properties

THE ASIAN AGE.
Published : Nov 22, 2017, 1:13 pm IST
Updated : Nov 22, 2017, 1:13 pm IST

The apex court cautioned the directors that alienation of property would make them liable for criminal prosecution.

The Supreme Court on Wednesday restricted all 13 directors and promoters of Jaypee group from selling any property belonging to them or their family members. (Representational Image)
 The Supreme Court on Wednesday restricted all 13 directors and promoters of Jaypee group from selling any property belonging to them or their family members. (Representational Image)

New Delhi: The Supreme Court on Wednesday directed all 13 directors and promoters of Jaypee group that they cannot sell any property belonging to them or their family members, without prior court permission.

The apex court cautioned the directors of Jaiprakash Associate Limited (JAL) that alienation of property would make them liable for criminal prosecution. Last week, the court had directed the non-institutional directors of JAL to appear in person before it this week and furnish details of their personal assets.

 

The court accepted the payment of Rs 275 crore made by Jaypee Associates. It directed the firm to deposit Rs 150 crore by December 11 and Rs 155 crore by December 31.

The next date for hearing of homebuyers’ plea was fixed on January 10. The 13 directors of the firm have been asked to appear before the court again on that day.

Tags: jaiprakash associates, jaypee group
Location: India, Delhi, New Delhi