The Supreme Court today asked the interim resolution professional (IRP), a body formed by the National Company Law Tribunal (NCLT), to take over management of Jaypee infratech. The court, while holding the issue as a matter of great human concern, asked the IRP to submit a detailed plan within 45 days on how it intends to protect the interests of the home buyers.
The court observed that it was concerned about the flat-buyers who had put in their hard-earned money.
The apex court also directed Jaypee Associates, the holding company of Jaypee Infratech to deposit Rs 2000 crore in apex court within 45days. The SC also restrained the Managing Director and Directors of Jaypee Infratech from leaving country without permission of court.
