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An Insight to the Jaypee Infratech Insolvency Process

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Jaypee Infratech in the year 2017 went into the Insolvency Process after their lenders, i.e., an IDBI Bank-led consortium moved to NCLT against the debt-ridden corporate debtor. As per the application, Jaypee owns an amount of approximately Rs 10,000 crores to the bankers. Round 1 of the Insolvency proceeding to revive Jaypee was initiated last year, wherein Lakshdeep made a bid of Rs 7,350 crore which was rejected by the lenders of Jaypee (corporate debtor). Further, in October last year, the Insolvency Resolution professional started the 2nd round of bidding as per the direction of NCLT to revive Japyee
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