NBCC (India) update on takeover of Jaypee Infratech

NBCC (India) announced that in case of Corporate Insolvency Resolution Process (CIRP) of Jaypee Infratech , the Hon'ble National Company Law Appellate Tribunal, New Delhi passed its order dated 30 July 2019, wherein it was made clear that all the earlier 'resolution plan(s)' including the plan submitted by the 'NBCC', cannot be considered, having been rejected by the 'Committee of Creditors' (COC). However, it will be open to the 'NBCC' to file a fresh improved 'resolution plan.

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