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May 17, 2018 10:26 PM | Real Estate

JP Infra gets back 858 acres of land mortgaged to lenders of JP Associates

Jaypee Infratech is set to get a huge land parcel back. CNBC-TV18's Manisha Natarajan tells why the debt laden company will get this land and what impact it will have on its books.

In a temporary relief to the 18,000 odd home-buyers of Jaypee Infratech, the Supreme Court on Wednesday stayed the liquidation proceedings against the company.

In addition, the court also directed the parent company of Jaypee Infratech, Jaiprakash Associates Ltd, to deposit an additional Rs 1,000 crore with the court registry for the purpose of refunding the affected home buyers.
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