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SC provides interim relief to ten flat buyers in Jaypee's Calypso project

ANI  |  New Delhi [India] 

The Supreme on Wednesday has provided interim relief to ten flat buyers in Jaypee's Calypso project.

It also directed Jaypee Infratech to pay Rs. 50 lakh for delayed possession to these home buyers.

Earlier on August 24, the Supreme adjourned hearing on home buyers' plea, challenging insolvency order against Jaypee Infratech.

The Jaypee home buyers approached the Supreme claiming no rights under the (IPC).

The bench of the Company Tribunal (NCLT) admitted the IDBI Bank's insolvency plea against Jaypee Infratech.

The IDBI filed an insolvency plea in the tribunal after Jaypee Infratech defaulted on a loan of around Rs. 8,500 crore. Although the company had claimed that it held adequate assets to repay the loan, the IDBI went ahead and filed the plea.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, September 13 2017. 15:22 IST
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