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Shares of Jaypee Infratech ended the session down by over 3 per cent after gaining over 8% intraday.
The Supreme Court today directed 13 directors, including five promoters of Jaiprakash Associates Ltd, not to dispose off their personal properties and asked the firm to deposit Rs 150 crore and Rs 125 crore by December 14 and December 31, respectively. The Bench accepted a demand draft of Rs 275 crore by the real estate firm.
Shares of Japyee Infratech jumped 8.2 per cent to Rs 15.90, Jaiprakash Associates 7.5 per cent to Rs 20.15 and Jaiprakash Power Ventures 3.6 per cent to Rs 7.37 on the BSE.
However, Jaypee Infratech ended the session down by 3.33% at Rs 14.21. On the other hand, Jaiprakash Associates closed up by 2.93% at Rs 19.30 and Jaiprakash Power Ventures ended higher by 1.55% at Rs 7.22.
In September, the Supreme Court had stayed insolvency proceedings against Jaypee Infratech at the National Company Law Tribunal (NCLT), and sought the firm’s response on a plea seeking protection of the interests of hassled home buyers who have neither got homes nor their money back.
A Bench headed by Chief Justice of India Dipak Misra also asked Attorney General KK Venugopal to assist it in deciding a batch of petitions opposing the insolvency proceedings, and seeking protection of the home buyers’ interests.
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