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NCLAT directs Jaypee Infratech RP to submit status report

Press Trust of India  |  New Delhi 

Law Appellate (NCLAT) today asked the resolution professional (RP) of to submit details on the progress of the resolution process of the debt-ridden firm.

A two member bench of the appellate tribunal, headed by Justice S J Mukhopadhaya, has asked the RP to list out the stage of the corporate resolution process.

"RP would file a reply with details of resolution plan including the stage at which it is in currently," said NCLAT.

It has also asked to answer whether any plan is with the RP or the committee of creditors (CoC), and whether that particular plan has been accepted or rejected.

The appellate was hearing a batch of petitions filed by several banks.

NCLAT has directed to list the matter in which banks have challenged their rights over the land mortgaged with them by the corporate debtor on July 20.

However, cases in which banks have challenged alleged fraudulent and undervalued transactions done by and will be heard on August 1.

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

First Published: Fri, July 13 2018. 12:55 IST
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