New Delhi, Oct 13 (PTI) The embattled Jaypee group todayinformed the Supreme Court that it wants to "hive off" themulti-crore Yamuna Expressway in order to generate money.
Jaypee Associates told the apex court that it has anoffer worth Rs 2,500 crore and sought permission to give theproject to another party.
A bench of Chief Justice Dipak Misra and Justices A MKhanwilkar and D Y Chandrachud said it will hear the matter onOctober 23.
Jaypee Associate, the parent company of Jaypee Infratech,had earlier been asked by the apex court to deposit Rs 2,000crore with the Supreme Court registry by October 27 for payingtroubled home buyers.
The court was hearing a plea by over 40 home buyers ofJaypee Wish Town project at Noida in Uttar Pradesh who havechallenged certain provisions of the Insolvency and BankruptcyCode, 2016.
The apex court had on September 11 revived insolvencyproceedings against Jaypee Infratech Ltd and given itsmanagement control to the Interim Resolution Professional(IRP), appointed by the National Company Law Tribunal, withimmediate effect.
It had restrained the managing director and directors ofthe company from travelling abroad without permission andasked its parent company, Jaypee Associates, to deposit Rs2,000 crore with the registry to safeguard the interest of thehome buyers.
The top court had also asked Jaypee Infratech to handover records to the IRP for drafting a resolution plan,indicating protection of interests of over 32,000 hassled homebuyers and creditors. PTI MNL ABA PKS RRTMIN.
This is unedited, unformatted feed from the Press Trust of India wire.