The Corporate Insolvency Resolution Process was initiated against Jaypee Infratech Ltd. (JIL). NBCC (India) Ltd. emerged as the Successful Resolution Applicant. The Adjudicating Authority modified the Resolution Plan submitted by NBCC (India) Ltd., which was approved by the Committee of Creditors. These modifications allowed objections from ICICI Bank Ltd. and Yamuna Expressway Industrial Development Authority and directed payment to unclaimed Fixed Deposit Holders. NBCC (India) Ltd. filed an appeal against these modifications, arguing that the Adjudicating Authority exceeded its jurisdiction. The Resolution Professional continues to manage the affairs of the Corporate Debtor and will be part of the Interim Monitoring Committee.

The Corporate Insolvency Resolution Process was initiated against Jaypee Infratech Ltd. (JIL). NBCC (India) Ltd. emerged as the Successful Resolution Applicant. The Adjudicating Authority modified the Resolution Plan submitted by NBCC (India) Ltd., which was approved by the Committee of Creditors. These modifications allowed objections from ICICI Bank Ltd. and Yamuna Expressway Industrial Development Authority and directed payment to unclaimed Fixed Deposit Holders. NBCC (India) Ltd. filed an appeal against these modifications, arguing that the Adjudicating Authority exceeded its jurisdiction. The Resolution Professional continues to manage the affairs of the Corporate Debtor and will be part of the Interim Monitoring Committee.