NBCC Allowed To Submit Fresh Resolution Plan in Jaypee Infratech Case
New Delhi: All the resolution plans offered by NBCC and others in the Corporate Insolvency Resolution Process (CIRP) of Jaypee Infratech Ltd have been rejected by Committee of Creditors and the National Company Law Appellate Tribunal, in its order dated 30 July, has declared such plans as null and void. Howeer, the National Company Law Appellate Tribunal has allowed all the parties including NBCC to file improved plans, NBCC said in a regulatory filing.
An opportunity has been given to all the eligible persons to file ‘expression of interest’ or improved resoiution plan, individually or jointly or in concert with any person. Those who are ineligible in terms of Section 29A, are barred from filing such plan.