Sep 04, 2017 01:17 PM IST | Source: CNBC-TV18
Around 32,000 homebuyers, who have not yet been given their flats as promised by Jaypee especially in the Delhi NCR region, face uncertainty over their investment in housing projects by the insolvency order
The Supreme Court Monday stayed the insolvency proceedings against Jaypee Infratech, ruling in favour of a petition filed by homebuyers.
It has also issued notice to the Finance Ministry, Jaypee Infratech, Reserve Bank of India and the Uttar Pradesh Government. In addition, a notice has also been sent to the Ministry of Corporate Affairs and IDBI Bank.
IDBI Bank had moved National Company Law Tribunal (NCLT) for insolvency proceeding…
Read the full article at: http://www.moneycontrol.com/news/business/companies/sc-stays-insolvency-proceedings-against-jaypee-infratech-before-nclt-2377811.html
