New Delhi : Realty firm Jaiprakash Associates (JAL), which is also facing bankruptcy proceedings in a company law tribunal, on Thursday moved the Supreme Court seeking approval of its resolution plan for revival.
The top court which is hearing petitions of hassled home buyers had asked the real estate firm to deposit money for repaying those who have opted for refund instead of possession of flats.
The firm has filed fresh plea relating to its revival plan. The real estate company has also sought directions to restrain the NCLT, Allahabad from proceeding further in the matter. “It is submitted that the resolution plan submitted by JAL fully protects the interest of all the stakeholders namely home buyers, financial creditors, operational creditors, minority shareholders and employees of Jaypee Infratech,” the petition said.
Offers 2,000 shares to home buyers
New Delhi: Jaypee group has offered 2,000 equity shares of Jaypee Infratech for free to each home buyer as part of its Rs 10,000 crore proposal to revive the bankruptcy-hit real estate firm, sources said. Jaypee group in its fresh proposal has offered 2,000 shares each to every home buyer on first registration.