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Jaypee Case: SC transfers all pending appeals in NCLAT to itself, next date August 31

IRP Anuj Jain has been directed to continue managing the affairs of the embattled firm

August 06, 2020 / 12:52 IST
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Supreme Court of India

To ensure that there is no further delay in execution of the approved resolution plan of NBCC and homebuyers get possession of their homes, the Supreme Court - on August 6 - transferred to itself all the appeals pending before National Company Law Appellate Tribunal (NCLAT). The next date of hearing is on August 31.

IRP Anuj Jain has been directed to continue to manage the affairs.

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The Wish Town project by Jaypee has been under the supervision of the interim monitoring committee since April 23. NBCC had moved NCLAT against NCLT’s order in March as it was unhappy with the modifications made in its resolution plan.

As many six Jaypee homebuyers associations had moved Supreme Court last week against the National Company Law Appellate Tribunal April order that gave conditional nod to state-owned-NBCC to implement its proposal to acquire debt ridden Jaypee Infratech and complete over 20,000 stalled flats.