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Supreme Court halts Jaypee Infratech's liquidation

Updated : May 17, 2018 06:38 AM IST

The court also directed the Jaiprakash Associates Ltd (JAL) to deposit an additional Rs 1,000 crore with the court registry
The legal counsel for the resolution professional, Parag Tripathi, also submitted before the court that promoter Manoj Gaur’s offer of close to Rs 10,000 crore for JIL was rejected by lenders.
The liquidation value of JIL is said to be in the range of Rs 12,000-14,000 crore.

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