Business India

SC stays NCLT order on Jaypee infratech

SC stays NCLT order on Jaypee infratech

The Supreme Court on Monday stayed an order of the National Company Law Tribunal (NCLT) appointing an insolvency resolution professional on IDBI’s plea seeking recovery of Rs 500 crore from Jaypee Infratech.

Staying the August 9 order of the Allahabad bench of NCLT, a bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud told the petitioner to serve a copy of their petition on Attorney General K.K. Venugopal seeking his assistance in the matter.

The court posted the matter for next hearing on October 10.

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