The total debt of Jaypee group has crossed over 70,000 crore and the same has come down below 30,000 crore after the group sold cement and other businesses. Photo: Mint
New Delhi: Leading private sector lender ICICI Bank has filed insolvency petition against Jaiprakash Associates before the National Company Law Tribunal (NCLT).
The Allahabad bench of NCLT has asked ICICI Bank to serve notice to its corporate debtor Jaiprakash Associates within three days and directed Jaypee group firm to file reply by 17 September.
If NCLT allows the plea of the ICICI bank, then this will be the second company of the crisis hit Jaypee group facing insolvency.
Financial creditor is directed to serve notice on the corporate debtor and file affidavit of service…
Read the full article at: https://www.livemint.com/Companies/PrSY7dEpWz6tXIpGTJ4KKO/ICICI-Banks-files-insolvency-plea-against-Jaiprakash-Associa.html