Insolvency covers 27 Jaypee Infra projects: IRP
(WorldNews India)

New DELHI: The Insolvency Resolution Professional (IRP) dealing with the Jaypee Infratech case has concluded that the current proceedings will cover apartments and plots spread across 27 projects in three land parcels and has ruled out any impact on projects being developed by Jaypee Associates, while also categorically stating that no refunds are possible. In a second set of FAQs released late Thursday evening, the IRP appointed by the National Company Law Tribunal has also said that the resolution plan will be approved by the Committee of Creditors (CoC), comprising financial creditors - public sector banks, financial institutions and other lenders. The CoC is to be...