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SC directs NCLT to hear Jaypee insolvency case

Aug 09, 2018 16:24 IST

The Supreme Court has asked the National Company Law Tribunal to handle insolvency proceedings against Jaypee Infratech and barred the group and its promoters from participating in fresh bidding process. The court also allowed the RBI to direct banks to initiate separate insolvency proceedings against the company. Homebuyers had moved the court following incomplete projects.

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