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Jaypee Supreme Court
20 February
By Velocityhousing.com, | 05 Comments

Jaypee Supreme Court

RBI had approached the apex court on 8 January 2018, seeking permission to initiate insolvency proceedings against JAL, the parent of Jaypee Infratech.Jaypee Infratech is among 12 firms against which RBI, through a 13 June directive, asked banks to file insolvency petitions.The Supreme Court on 5th February 2018 declined to pass a stay order on the bidding process for assets of Jaypee Infratech Ltd., currently undergoing resolution under the Insolvency and Bankruptcy Code.Several stranded homebuyers had challenged the insolvency proceedings against Jaypee Infratech, fearing they will lose their apartments and not get any compensation. Homebuyers were worried that any resolution under the Insolvency & Bankruptcy Code would give lenders preference in repayment.



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Velocity Propbuild(P) Ltd. an ISO-9001-2008 certified and Dar Germany Pvt. Ltd. accredited real estate consulting firm has established an immutable image of proficiency, Reliability and Transparency by providing satisfactory services the local, regional and global real estate needs of clients.

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Soaring success of Velocity Propbuild Pvt. Ltd. lies in the firm and consistent approach to provide outstanding services to the clients. With over 4500 satisfied customers, Velocity Propbuild Pvt. Ltd. has become one of the fastest growing real estate consulting firms in India (especially in NCR region). Satisfied customers are the real asset of our company.

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