After Supreme Court order, Jaypee group plans to move NCLT over bid

The company has over 3,300 acres of unused land

The Jaypee group is devising a strategy to move the National Company Law Tribunal (NCLT) with its bid for the beleaguered Jaypee Infratech after the Supreme Court allowed it to file a resolution plan.

However, a decision is yet to be taken, sources said.

The Supreme Court’s order said JAL was at liberty to submit a representation to the “competent authority”. The representation should be considered in accordance with law, the order said. Distancing itself from any opinion on this matter, the court, however, made it clear that the resolution professional would be at liberty to finalise the plan in terms of