A bench of the National Company Law Tribunal (NCLT) New Delhi, has ordered notices to the Union government and Chairman, Insolvency and Bankruptcy Board of India (IBBI), seeking their views on the the issue of voting rights of homebuyers and financial creditors of Jaypee Infratech Limited.
The case relates to a deadlock over resolutions to be passed at a meeting of the firms committee of creditors (CoC).
The President of NCLT referred the case to the single bench, in exercise of powers under Section 419(5) of the Companies Act 2013, after two members of the Allahabad Bench took contrary views on the issue.
As per the court filings, the voting rights of various parties in the total debt of the company is as follows lenders 41.8%, homebuye…
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