SC adjourns hearing on Jaypee home buyers' plea

New Delhi [India], Aug 24 (ANI): The Supreme Court today adjourned hearing on home buyers' plea, challenging insolvency order against Jaypee Infratech.

The Jaypee home buyers approached the Supreme Court claiming no rights under Indian Penal Code (IPC).

The apex court has fixed September 4 as the next date of hearing in the case.

The Allahabad bench of the National Company Law Tribunal (NCLT) admitted IDBI Bank's insolvency plea against Jaypee Infratech.

IDBI filed an insolvency plea in the tribunal after Jaypee Infratech defaulted on a loan of around Rs. 8,500 crore. Although the company had claimed that it held adequate assets to repay the loan, IDBI went ahead and filed the plea. (ANI)

This story has not been edited. It has been published as provided by ANI