Jaypee Infratech Ltd, Jaiparkash Associates Ltd: Commencement of Insolvency Proceedings

Homebuyers are “financial creditors” The Supreme Court on Thursday ordered commencement of insolvency proceedings afresh against distressed realtor Jaypee Infratech Ltd (JIL) before the National Company Law Tribunal, while also bringing the parent company, Jaiprakash Associates Ltd (JAL), within the ambit of similar action.
Having failed to make any headway for a year, the SC sent JIL back toRead More…