Jaypee Associates seeks SC approval to sell Yamuna Expressway project - Oneindia News

News Karnataka Election Sports Movies Lifestyle Auto Gadgets TravelMoney Coupons

English

Karnataka Election Election News Election Predictor Dream Cabinet Infographics Interviews Cartoons Vision for Karmataka Opinion Polls Voting Q&A

News India International Sports Business Features Videos

Sports Movies Bollywood Hollywood Tamil Telugu Malayalam Kannada Television Photo Gallery

Lifestyle Beauty Cookery Insync Health Home n Garden Pregnancy n Parenting Relationship

Auto Car News Bike News Reviews How-To Photos EMI Calculator Offbeat Latest New Cars

Gadgets Mobile Tablet Reviews Gadgets

Travel Hotels Flights Articles

Money News Classroom Personal Finance Mutual Fund Insurance

Coupons AmazonJabongFlipkartBookmyshowDominosMakemytripFoodpandaGodaddyPepperfryZoomcar

Android App Get Oneindia extension

You can manage your notification subscription by clicking on the icon.

To start receiving timely alerts, as shown below click on the Green lock icon next to the address bar Click it and Unblock the Notifications Close X Notifications

Clear All No Notifications

Home News India Jaypee Associates seeks SC approval to sell Yamuna Expressway project

Jaypee Associates seeks SC approval to sell Yamuna Expressway project India oi-Chennabasaveshwar Posted By: Chennabasaveshwar Updated: Friday, October 13, 2017, 13:34 [IST] Subscribe to Oneindia News

Related Articles SC issues directions for expeditious implementation of POCSO act Politicisation of Ayodhya dispute no ground to refer it to larger Bench Ayodhya dispute: SC fixes the matter for further hearing on May 15 Jaiprakash Associates shares soar 5 per cent high

Jaypee Associates wants to sell Yamuna Expressway project to pay debts | Oneindia News

Embattled real estate firm Jaypee Associates on Friday sought permission from the Supreme Court to sell its Yamuna Expressway project to raise Rs 2,000 crore to deposit in the Apex Court.

The Supreme Court of India.

In September, the Apex Court had directed the the real estate firm to deposit Rs 2,000 crore by October 27 with its registry and asked the NCLT- appointed interim resolution professional (IRP) to take over its management and work out a plan to protect the interests of homebuyers and creditors.

The Apex Court, in effect, allowed the insolvency proceedings against Jaypee Infratech to continue but stayed the proceedings initiated against it in other fora like the Consumer Commission.

The top court had on September 4 stayed the insolvency proceedings against the real estate firm at National Company Law Tribunal (NCLT).

Around 32,000 persons had booked flats in the projects of Jaypee Infratech.

Hundreds of home buyers have been left in the lurch after the NCLT, on August 10, admitted the IDBI Bank's plea to initiate insolvency proceedings against the debt-ridden realty company for defaulting on a Rs 526-crore loan, the plea said.

(With agency inputs)

Subscribe to Oneindia. For breaking news & Instant updates throughout the day

Read more about: supreme court jaypee industries real estate

Is trouble brewing within the BJP in Karnataka? Kerala: Case registered against VHP leader Sadhvi Saraswati Report says White House chief of staff called Trump an 'idiot'; Kelly denies

Featured Posts How & Why Short-Term Business Loans Make Sense For Experienced Entrepreneurs How important are the Customer Reviews for you?

Oneindia in Other Languages

Explore Oneindia News India Sports Videos Cricket

FeaturesCoupons BusinessInternational Football

Follow Oneindia Daily Updates Get Oneindia Alerts Get Push Notifications About Us | Terms of Service | Privacy Policy | Newsletters | Apps | RSS | Advertise with Us | Work for Us | Contact Us | Site Feedback | Sitemap One.in Digitech Media Pvt. Ltd. All Rights Reserved. The "ONEINDIA" word mark and logo are owned by One.in Digitech Media Pvt. Ltd.

For Breaking News from OneindiaGet instant news updates throughout the day. Not Now Enable