Tribunal Admits IDBI Plea Against Jaypee Infratech
New Delhi The National Company Law Tribunal has admitted the insolvency petition filed by IDBI Bank against debt-ridden Jaypee Infratech. The Allahabad bench of NCLT has admitted the petition filed by IDBI Bank under Section 7 of Insolvency and Bankruptcy Code 2016, Jaypee Infratech said in a regulatory filing. “Consequent upon withdrawal of objections filed by the company, NCLT, Allahabad Bench has on August 9 pronounced operating portion of its order admitting the petition of IDBI Bank filed under Section 7 of Insolvency and Bankruptcy Code 2016 and appointing Interim Resolution Professional,” it said.
Jaypee Infratech is into road and real estate sectors.