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2018 (5) TMI 1 - SC - Insolvency and BankruptcyNon-compliance with deposit of ₹ 200 crores - Refund claim by home buyers / allottees - Held that: - JAL shall deposit a further sum of ₹ 200 crores in two instalments, as agreed by the Managing Director who is present in Court today. The first instalment of ₹ 100 crores shall be deposited by 15th April 2018 and the second instalment of ₹ 100 crores shall be deposited by 10th May 2018 - Mr. Agrawal, learned amicus curiae shall keep the portal operational. However, the requests of only those persons on the portal who have sought refund, as of today will be considered at this stage No demand towards outstanding or future instalments shall be raised by the developer to the flat buyers who have, as of today, expressed the option to obtain refund. The demands raised by the developer in respect of the home buyers who have already opted for refund till today, shall remain stayed.
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