India: Jaypee Infra goes to state-run NBCC in relief for buyers

India: Jaypee Infra goes to state-run NBCC in relief for buyers

NCLT directed that the ₹750 crore deposited by Jaypee Infratech parent with the Supreme Court’s registry will be part of the resolution plan as well/Photo: Mint

A bankruptcy court on Tuesday approved a resolution plan submitted by state-run NBCC (India) Ltd to acquire Jaypee Infratech Ltd, offering relief to thousands of homebuyers in the property developer’s stalled projects in Noida and Greater Noida.