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Apex court restrains Jaypee directors from alienating properties
23-Nov-2017

The Supreme Court today directed 13 directors, including five promoters of embattled Jaiprakash Associate Limited, not to alienate their personal properties and asked the firm to deposit Rs. 150 crore and Rs. 125 crore by December 14 and December 31 respectively.The bench accepted a demand draft of Rs. 275 crore by the real estate firm today.A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud further restrained the directors from alienating the properties of their immediate family members also and cautioned that any violation of its directive would hold them liable for criminal prosecution.

News Source:- http://www.thehindubusinessline.com/companies/apex-court-restrains-directors-of-jaiprakash-associates-from-alienating-properties/article9969458.ece