JPA tanks as SC asks directors to disclose personal assets by next week
ETMarkets.com|
Updated: Nov 14, 2017, 04.07 PM IST
NEW DELHI: Shares of Jaiprakash Associates tumbled over 14 per cent in Tuesday's trade after The SC directed its non-institutional directors to appear in person before it next week and furnish details of their personal assets.
Following the announcement, the stock fell 14.32 per cent to hit a low of Rs 18.25 on BSE. The stock closed 7.28 per cent down at Rs 19.75 on Tuesday.
The court had on November 6 refused to allow the company to deposit to Rs 400 crore with its registry as against Rs 2,000 crore, as directed earlier.
On September 11, the court had directive the company to deposit Rs 2,000 crore by October 27 to protect the interests of homebuyers and creditors.
The stock fell even as the company said that it has shown interest in completing real estate projects of group firm Jaypee Infratech as per the insolvency resolution plan and that the group firm has more assets than liabilities and it is a fit case for resolution.
Following the announcement, the stock fell 14.32 per cent to hit a low of Rs 18.25 on BSE. The stock closed 7.28 per cent down at Rs 19.75 on Tuesday.
The court had on November 6 refused to allow the company to deposit to Rs 400 crore with its registry as against Rs 2,000 crore, as directed earlier.
On September 11, the court had directive the company to deposit Rs 2,000 crore by October 27 to protect the interests of homebuyers and creditors.
The stock fell even as the company said that it has shown interest in completing real estate projects of group firm Jaypee Infratech as per the insolvency resolution plan and that the group firm has more assets than liabilities and it is a fit case for resolution.
