SC orders fresh round of bidding for Jaypee Infratech
The Supreme Court on Thursday ordered a fresh round of bidding for Jaypee Infratech and allowed RBI to initiate insolvency proceedings against parent firm Jaiprakash Associates. It ordered reconstitution of Committee of Creditors to include homebuyers according to amendments in bankruptcy law. The court also barred Jaiprakash Associates and its promoters from participating in the bidding process.