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SC asks JAL to deposit Rs 1,000 crore

Press Trust of India  |  New Delhi 

The today asked realty firm (JAL) to an additional Rs 1,000 crore with its Registry by June 15 for ensuring refund of money to the hassled

On submission of this amount, the liquidation proceedings against (JIL), a subsidiary of holding company JAL, shall remain stayed, a bench headed by said.

The bench, which also comprised Justices A M Khanwilkar and D Y Chandrachud, said if there was any default in depositing the money by June 15, the statutory proceedings against JIL, a firm which has been facing insolvency proceedings, shall proceed.

The apex court had earlier directed JAL to Rs 2,000 crore with the apex court Registry. So far, the firm has deposited Rs 750 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 15:25 IST