NBCC’s bid for Jaypee Infratech approved by NCLT
The National Company Law Tribunal (NCLT) has approved the recommendation of state-owned NBCC to take debt-ridden Jaypee Infratech through a bankruptcy process. The Supreme bench of NCLT directed by Acting President B S V Prakash Kumar gave a green flag to the plan of NBCC, which was approved by the lenders of Jaypee Infratech in December 2019. The authority also altered the resolution plan and stated the amount of Rs 750 crore invested by Jaiprakash Associates would be part of Continue Reading
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