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Jaypee Infratech CFO Ram Bahadur Singh resigns on health grounds

Jaypee Infratech has been taken over by Insolvency Resolution Professional for recovery of bad loans

Press Trust of India  |  New Delhi 

Jaypee Infratech
Photo: Reuters

Debt-ridden on Tuesday said its chief financial officer (CFO) has resigned from the company on health grounds. In a filing to the BSE, informed that Singh "who was the director and chief financial officer of the company has resigned due to deteriorating health since last six months, form the directorship as well as from the post of chief financial officer from the close of working hours on January 15, 2018". has been taken over by an NCLT-appointed Insolvency Resolution Professional (IRP) for recovery of bad loans.

A few months ago, the had admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code.

Insolvency resolution professional (IRP) Anuj Jain had on October 27 issued a public notice seeking applications from entities with regard to the resolution of JIL.

Several players have submitted an expression of interest (EOIs). Jaypee Infratech, which is into road construction and real estate business, has constructed the Yamuna Expressway, connecting Delhi and Agra.

First Published: Tue, January 16 2018. 21:13 IST
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