NCLAT extends Jaypee Infra’s insolvency period

NEW DELHI: The National Company Law Appellate Tribunal on Tuesday extended the resolution period of Jaypee Infratech for another 90 days. The Committee of Creditors (COC) and the resolution professional would have 45 days to consider the resolution plans and select a final bidder to complete the process. A twomember bench said that as corporate insolvency resolution was pending for a long time, it would give only 45 days to the resolution professional and the COC of the Jaypee Infratech to complete the process of inviting new bids.