SC appointed amicus curiae says Jaypee homebuyers can register claims on portal from Tuesday

The amicus curiae of the Jaypee insolvency case, Pawan Shri Aggarwal,  informed the Supreme Court on Monday that the website was ready and that buyers could register their claims from Tuesday.

Aggarwal was directed by the apex court last month to update the portal where homebuyers who have booked apartments in various Jaypee projects in Noida could register their claims.

“Homebuyers can register their claims on the website from tomorrow – whether they want the unit or a refund. They will also have to upload their details, allotment letter, photograph and an affidavit stating what they want,” says Pawan Shri Aggarwal.

Homebuyers are required to file an affidavit stating that they are the owners of the said flat and get the document attested.

The Jaypee matter was listed for Monday. The bench heard the matter for five minutes.

The Supreme Court registry on Monday also wanted, that the amount of Rs 275 crore deposited by the troubled Jaypee Associates last month, be transferred from the general account of the Supreme Court to a fixed deposit so that it could earn interest. The request was accepted.

At the November 22 hearing, the Supreme Court had allowed the parent company of Jaypee Infratech Ltd to deposit Rs 275 crore and another Rs 275 crore by December 31. This is against the earlier order asking the promoters to deposit Rs 2,000 crore by November 13 which the promoters were unable to meet even though four deadlines had expired.

While the Supreme Court’s order to deposit Rs 2,000 crore stands, the court allowed the developer to deposit the amount in instalments but did not specify a timeline for the remaining Rs 1,450 crore to be deposited by the promoter.

The bench comprised of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud.

The next date of hearing - has been listed for January 10, 2018, the order said.

On September 11 this year, Supreme Court directed Jaypee Associates, the parent firm of its real estate firm Jaypee Infratech, to deposit Rs 2,000 crore by October 27. The apex court also asked the NCLT-appointed interim resolution professional (IRP) to take over the management of Jaypee Infratech and submit a plan to protect the interests of homebuyers and creditors within 45 days.

Also, the National Company Law Tribunal (NCLT) appointed resolution professional (IRP) Anuj Jain received 21 bids from investors last week who were willing to pump in at least Rs 2,000 crore to complete the projects floated by Jaypee Infratech that involves nearly 32,000 apartments, plots and villas.

The new entrants post the ordinance promulgated last week that bars promoters of companies that have been non-performing assets (NPAs) for over a year from submitting their bids for the resolution process include high profile companies such as Adani Group, Hindujas and Sajjan Jindal’s JSW Group.

Among the parties that had expressed interest earlier included Vedanta Group, Essel Highways, IDFC, Lodha Group, Puravankara, SARE Homes, L&T Infra, Cube Highways from Singapore, Kotak Infra, SARE Group, Deutsche Bank, Asset Reconstruction Company (India) Limited, Suraksha Realty, Tata Realty, National Infrastructure Investment Fund (NIIF) and JSW among others.