SC stays NCLT Allahabad order initiating insolvency proceedings against Jaypee Infratech

Bar & Bench September 4 2017
Rebati Phukan

The Supreme Court today stayed the order of the Allahabad Bench of the National Company Law Tribunal (NCLT) directing initiation of insolvency proceedings against Jaypee Infratech.

In a petition by flat buyers, a Bench of Chief Justice Dipak Misra and Justices AM Khanwilkar and DY Chandrachud, apart from staying the August 9 order of the NCLT, also issued notice to the Reserve Bank of India, Ministry of Finance, Ministry of Corporate Affairs and Jaypee Infratech, among others.

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