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Jaiprakash Associates pays Rs 750 crore towards obligation of Jaypee Infratech: NCLT

Updated : March 06, 2020 12:02 AM IST

The NCLT Delhi bench on Tuesday approved the bid of state-owned NBCC to acquire debt-laden JIL through an insolvency process and complete around 20,000 pending flats over the next three and half years.
NCLT said that as JAL is not under further obligation to complete construction of homes
JAL cannot be assumed that if this money returned then it would be utilised to settle the debt of creditors of Jaypee Infratech Ltd (JIL), NCLT stated.
Jaiprakash Associates pays Rs 750 crore towards obligation of Jaypee Infratech: NCLT

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