Jaypee Infratech has defaulted on Rs526.11 crore of loans outstanding to IDBI Bank. Photo: Ramesh Pathania/Mint
New Delhi: The Supreme Court on Wednesday restrained the independent directors and promoters of Jaiprakash Associates Ltd (parent company of Jaypee Infratech) and their family members from transferring any personal assets or property without the courts permission in order to safeguard the homebuyers interests.
They will be held for criminal prosecution or contempt of the courts order if found in violation, the court held.
Eight independent directors and five promoters of Jaiprakash Associates were personally present in court on Wednesday.
You have gone up at the cost of home buyers, said chief justice Dipak Misra as he addressed …
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