Jaypee Infratech row: SC asks IRP to submit scheme for buyers

NEW DELHI: The Supreme Court today said the Insolvency Recovery Professional (IRP) would collect records of Jaypee Infratech and submit a scheme in favour of the home buyers within 45 days.

A three-judge bench, headed by Chief Justice Dipak Misra, said the MD of Jaypee Infratech shall not leave the country without prior permission of the court.

The court also made it clear that the holdings companies of the Jaypee Infratech would have to deposit Rs 2,000-crore with the Supreme Court registry on or before October 27.

It said all those involved in insolvency proceedings except IDBI, ICICI and SBI banks will not leave the country.

The bench observed, “It is a human problem of high magnitude.”  The next date of hearing is November 13. (AGENCIES)

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