Jaypee flat buyers will get Rs 50 lakh each



New Delhi, Sep 13 The Supreme Court on Wednesday directed Jaiprakash Associates to deposit Rs 50 lakh as part payment of compensation for delayed possession to 10 buyers of flats in its Kalypso Court project in Noida.



A bench of Chief Justice Dipak Misra, Justice Amitava Roy, and Justice A.M. Khanwilkar said Rs 50 lakh would be given to Developers Township Property Owners Welfare Society, which in turn would disburse Rs five lakh each to 10 flat buyers.



This payment is an interim arrangement. The 10 flat buyers are society members.



Senior counsel Kapil Sibal appeared for Jaiprakash Associates and senior counsel Saikrishna Rajagopal appeared for the society representing 10 flat buyers.



On May 2, 2016, the National Consumer Disputes Redressal Commission (NCDRC) ordered Jaiprakash Associates to pay 12 per cent interest on money deposited by each of the 10 flat buyers from date of provisional allotment letters till handing over of actual possession of flats.



Besides, the NCDRC had directed Jaiprakash Associates to pay Rs 50,000 as cost to each of the 10 flat buyers.



However, the top court on July 15, 2016, stayed the NCDRC direction to pay 12 per cent interest. "... as far as the interest component is concerned, it shall remain stayed, subject to the petitioner depositing Rs 4 crore by July 29, 2016," the court said. 



Jaiprakash Associates had launched in 2007 the Kalypso Court project, which proposed to have 16 residential towers. It was proposed to be completed by 2011. 

IANS

Related news

Don’t Miss

Ram Rahim,Honeypreet played sex version of Bigg Boss with couples?
Honeypreet was nude with Ram Rahim in bed, hubby caught her
Get Honeypreet, take Rs 1 lakh
Drunk fashion designer Rohit Bal creates ruckus,arrested
Karti Chidambaram is closing foreign accounts,alleges CBI
Navratri 2017: Know which colour to wear on these 9 days!
Scared China now says Kashmir issue is between India and China
These new smartphones will give you long lasting battery!
Ranbir dating this new woman? Pics go viral
Bebo's grand birthday party pictures!
Inside pics of Kareena Kapoor Khan's grand b'day party
Know what makes Big B enthusiastic about Newton!
Aditya Roy Kapur doesn't want to risk this!
Aditya Roy Kapur makes a strange revelation!
Good news..You will soon get to enjoy 5G!
Aditi Rao Hydari reveals role of Sanjay Dutt in Bhoomi
PM Modi will spend Rs 5000000000000 to give you jobs, houses
Exclusive: Where has Honeypreet disappeared from Nepal?
Birthday Special: Top controversies of Kareena Kapoor Khan
Sunny Leone loves this!
Tata Nexon Launched At Rs 5.85 Lakh
This is how Bengal is set to celebrate Durga Puja this year!
Govt jobs for 12th pass here; Send resume now
First Look: Deepika is a 'Goddess Queen' in Padmavati!
Yogi in action: Transfers 29 IPS officers
Major Arab marriage busted, 8 sheikhs held
Launching Tomorrow - Tata Nexon
Mumbai Rains: BIG chaos at airport, railway stations
Inside Pics: Madhuri Dixit's palatial bungalow!
Ryan school owners Augustine, Grace, Ryan will be in jail?

Most Recent






Most Popular