The Adani offer, and other proposals, should be considered only if the resolution plan submitted by NBCC failed to make any headway despite the NCLAT’s intervention, Justice Mukhopadhaya said. He reiterated that in the interest of home buyers, the resolution of Jaypee Infratech would not be allowed to fail. Apex court hearingThe Supreme Court will hear next week a plea seeking that Jaypee Infratech Ltd not be sent into liquidation. As many as 13 banks and over 23,000 home buyers have voting rights in the CoC of Jaypee Infratech. In most bankruptcy proceedings, lenders have the right to vote for or against a resolution plan for a debt-laden firm.

Source: The Telegraph July 02, 2019 19:15 UTC