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Action-packed week for Jaypee group

| Updated on August 01, 2019 Published on August 02, 2019

 

The National Company Law Appellate Tribunal set aside an NCLT order that directed Jaiprakash Associates to return 758 acres of land that was pledged with several banks, to debt-laden Jaypee Infratech.

The Allahabad bench of the NCLT had asked JAL to return the land to Jaypee Infratech, terming the transfer of land as fraudulent and undervalued. The Supreme Court will, on Friday, hear the group’s plea against the NCLAT order, which allowed fresh bidding for Jaypee Infratech.

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Published on August 02, 2019
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