NCLAT issues notices as Jaypee minority shareholders seek compensation

A bunch of minority shareholders of Jaypee Infratech has moved the National Company Law Appellate Tribunal (NCLAT) to seek right compensation in the delisting process of the debt-ridden firm.

A three-member NCLAT bench has issued notices to NBCC, IDBI Bank and resolution professional of Jaypee Infratech as well as to the bourses NSE and BSE.

The appellate tribunal has directed to list the plea of minority shareholders for admission on August 17 along with another petition in the ongoing insolvency proceedings.

State-owned NBCC, which has got an approval from creditors and the National Company Law Tribunal (NCLT) to acquire Jaypee