SC wants that Jaypee homebuyers must get their flats or their money
The Supreme Court on Tuesday observed it wanted to help the homebuyers of Jaypee Wish Town project and they must get their flats or their money refunded. A bench headed by Chief Justice Dipak Misra said this while hearing a plea by over 40 homebuyers of Jaypee Wish Town project at Noida in Uttar Pradesh who have challenged certain provisions of the Insolvency and Bankruptcy Code, 2016.
The apex court, however, said it does not want to have more litigations in such matters. “We want to help the homebuyers but not litigation. We want that homebuyers must get their flats or their money,” the bench, also comprising Justices A M Khanwilkar and D Y Chandrachud, said.
The bench told petitioner’s counsel Rashid Saeed that it has already appointed senior advocate Shekhar Naphade as an amicus curiae in the matter pertaining to the insolvency proceedings against real estate major Jaypee Infratech Ltd. It asked Saeed to file an application for impleadment as a party in the pending insolvency proceedings matter.