Supreme court had earlier reserved its order on “interim reliefs” sought by various stakeholders (File)
In a setback to the Jaypee group, the Supreme Court today asked the National Company Law Tribunal (NCLT), Allahabad, to deal with the insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding process.
A bench headed by Chief Justice Dipak Misra said the limitation period of 180 days to conclude the insolvency proceedings will commence from today.
The bench, also comprising of Justices AM Khanwilkar and DY Chandrachud, said the Rs 750 crore deposited by the Jaypee Infratech Ltd in the top court shall be transferred to NCLT Allahabad.
The top court als…
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