The Supreme Court stayed on Monday the insolvency proceedings against real estate firm Jaypee Infratech at National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI.
It also issued notice to embattled firm and others on a plea filed by homebuyers who have not yet received possession of their dream flats booked with the company.
A bench comprising Chief Justice Dipak Misra and Justices AM Khanwilkar and DY Chandrachud also sought the response of the real estate company, the RBI and others on a PIL filed by Chitra Sharma and other homebuyers alleging that they have not received the flats and the insolvency proceedings initiated against the company will render them without any remedy.
The plea said the homebuyers, b…
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