NEW DELHI: The government is exploring if it was legally tenable to sell other assets of debt-ridden Jaypee Infratech to raise money to complete pending housing projects of the company, a top finance ministry official said today.
Hundreds of home buyers had been left in lurch after the National Company Law Tribunal (NCLT) admitted bankers’ plea for initiating insolvency proceedings against the realty company for defaulting on a Rs 526-crore loan.
“The government is looking at ways to provide relief to Jaypee Infratech home buyers,” the official said.
“We will discuss with the corporate affairs ministry if bankruptcy code provides any legal ground for sale of other assets of companies to fund completion of pending projects.”
He…
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