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Supreme Court keeps ban on Jaiprakash Associates asset sales

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India's top court on Wednesday maintained a ban on sale of assets or a stake in Jaiprakash Associates Ltd, while saying it would hear at a later date a plea by the central bank seeking to push the infrastructure company into insolvency proceedings.Jaypee Infratech Ltd, a group company of Jaiprakash Associates, is already being pursued in the bankruptcy court over loan defaults. Many buyers of apartments in a mega township project being built by Jaypee Infratech on the outskirts of New Delhi have petitioned the court over fear that they would lose their money.The top ...

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First Published: Wed, January 10 2018. 14:04 IST