NEW DELHI: The Supreme Court today agreed to hear IDBI Bank’s plea seeking modification of its order staying insolvency proceedings against embattled real estate firm Jaypee Infratech on September 11.
A bench comprising Chief Justice Dipak Misra and Justices Amitava Roy and A M Khanwilkar considered the submission of the bank that staying the order of the National Company Law Tribunal (NCLT) in Allahabad had reversed the position and, as a consequence, the company had gone back to defaulting promoters.
Senior advocate A M Singhvi, appearing for the bank, said the Jaypee group was in charge of the company again because of yesterday’s apex court order.
The bank’s money is also public money and we are seeking modification of that or…
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