SME Times News Bureau | 17 Jul, 2019
In a fresh turn of events in the Jaypee Infratech resolution process,
the National Company Law Appellate Tribunal (NCLAT) on Wednesday asked
the committee of creditors (CoC) to file an affidavit by Friday with
conditions framed for fresh bids.
The two-judge Bench, headed by
NCLAT Chairman Justice S.J. Mukhopadhaya, also laid down the grounds for
the terms and conditions saying there should not be any change in the
apartment and amenities promised to allottees by the original developer.
The matter will next be heard on Monday.
The Bench also said the land attached to the building and common amenities would remain with allottees.
the hearing, Justice Mukhopadhaya said the appellate tribunal was
working with the aim to deliver "justice to homebuyers".
Group's request for consideration of their bid, the Bench said it would
have to file a fresh bid, keeping in mind the new conditions.