A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud asked the real estate firm that on submitting Rs 1,000 crore, the liquidation proceedings against Jaypee Infratech Ltd (JIL), a subsidiary of holding company Jaiprakash Associates, would remain stayed.
However, failure to deposit the amount would result in the start of insolvency proceedings against JIL, said the bench.
JIL is facing insolvency proceedings.
Earlier, the court had directed Jaiprakash Associates to deposit Rs 2,000 crore with its registry.
JAL has deposited Rs 750 crore with the apex court registry so far.
The counsel appearing for JAL asked the apex court that its resolution plan for revival of Jaypee, which the home buyers are opposed to, should be considered afresh by lending banks or the Committee of Creditors (CoC).
Earlier, the bench had sought from JAL details of its housing projects in the country and said that the home buyers should either get their houses or their money back.
The court was hearing the pleas of home buyers contending that people had booked flats and were now paying instalments.
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