India city Mumbai covid-19 India city Mumbai

Jaypee Infratech resolution behind bulk of banks' Jan-Mar recoveries under IBC

Reading now: 825
www.livemint.com

MUMBAI: The last quarter (January-March) of financial year 2019-20 was quite fruitful for banks in terms of stressed asset resolution and recovery under the Insolvency and Bankruptcy Code (IBC), realising 64% of their dues.

This was primarily led by ₹23,223 crore coming from the resolution of Jaypee Infratech Ltd. While Jaypee's insolvency proceedings began in August 2017, the resolution plan was approved just two months ago, state-owned NBCC emerging as the successful buyer of the troubled company.

The resolution plan approved in Jaypee Infratech has been challenged before the National Company Law Appellate Tribunal (NCLAT).

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA