The embattled Jaypee group on 13 October informed the Supreme Court that it wanted to “hive off” the multi-crore Yamuna Expressway in order to generate money.
Jaypee Associates told the apex court that it has an offer worth Rs 2,500 crore and sought permission to give the project to another party.
A bench of Chief Justice Dipak Misra and Justices AM Khanwilkar and DY Chandrachud said it will hear the matter on 23 October.
The court was hearing a plea by over 40 homebuyers of Jaypee Wish Town project in Noida, Uttar Pradesh who have challenged certain provisions of the Insolvency and Bankruptcy Code 2016.
The apex court had on 11 September revived insolvency proceedings against Jaypee Infratech Ltd and given its management control to the Interim Resolution Professional (IRP), appointed by the National Company Law Tribunal, with immediate effect.
The top court had also asked Jaypee Infratech to hand over records to the IRP for drafting a resolution plan, indicating protection of interests of over 32,000 hassled home buyers and creditors.
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