Jaypee Infratech: NCLAT tells lenders, allottees to appear on July 17

The NCLAT Tuesday directed representatives of lenders, allottees and other stakeholders to appear before it on July 17 after banks rejected NBCC's bid to acquire debt-ridden Jaypee Infratech.

The three-member bench headed by Justice Chairman S J Mukhopadhyaya said it is not keen to consider Adani Group's bid at this stage saying it has no experience in infrastructure and questioned banks on backdoor negotiations with the business conglomerate. It directed the Committee of Creditors (CoC) to produce a gist of the resolution plan submitted by NBCC and objections they have with regard to the plan.