Lenders of Jaypee Infratech Invited by NCLAT

Lenders of Jaypee Infratech Invited by NCLAT

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The NCLAT directed representatives of lenders, allottees and other stakeholders to appear before it on July 17 after banks rejected NBCC’s bid to acquire debt-ridden Jaypee Infratech.

The three-member bench headed by Justice Chairman S J Mukhopadhyaya also refused to consider Adani Group’s bid saying it has no experience in infrastructure and questioned banks on back door negotiations with the business conglomerate.

It directed the Committee of Creditors (CoC) to produce a gist of the resolution plan submitted by NBCC and objections they have with regard to the plan.

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