Jaypee insolvency: NCLAT asks IDBI Bank to list new terms for fresh bidding

In its hearing Wednesday, the appellate tribunal has suggested some guidelines for new terms and conditions

The National Company Law Appellate Tribunal (NCLAT) Wednesday directed IDBI Bank, the lead lender of debt-ridden Jaypee Infratech, to file an affidavit listing out new terms and conditions if a fresh round of bidding is conducted.

A two-member bench headed by Chairman Justice S J Mukhopadhaya has asked IDBI Bank to file an affidavit by Friday in this regard. The appellate tribunal has listed the matter for next hearing on Monday.

"Counsel appearing for lenders is allowed to file new terms and conditions in case fresh bidding takes place," the bench said.

In the second round of bidding, the committee of creditors (CoC)