Debt-ridden Jaypee Infratech, which is facing insolvency proceedings, on Tuesday said that all the consortium lenders — excluding ICICI Bank — have assigned their debt to National Asset Reconstruction Company Ltd (NARCL). Jaypee Infratech Ltd (JIL) is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the provisions of the Insolvency & Bankruptcy Code (IBC) following an order dated August 9, 2017, passed by the Allahabad-Bench of National Company Law Tribunal (NCLT).
The case has been reserved for orders on the approval of the resolution plan in respect of JIL before the NCLT, Principal Bench, Delhi.
In a regulatory filing, JIL said the company has been financed by a consortium of lenders comprising IDBI Bank Ltd, …
Read the full article at: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/jaypee-infra-insolvency-consortium-lenders-except-icici-bank-assign-their-debt-to-narcl/articleshow/97288220.cms