![NCLT Approves Jaypee Infratech Insolvency Resolution Plan](http://media.assettype.com/cornerofficejournal%2F2023-02%2Fba3d4437-0285-491f-a7ea-c3dfc3bca795%2FLegal_Court_Tribunal.png?rect=0%2C0%2C1920%2C1080&w=480&auto=format%2Ccompress&fit=max)
Jaypee Infratech Ltd. said India's National Company Law Tribunal (NCLT) approved the company’s resolution plan submitted by Suraksha Reality and Lakshdeep Investments & Finance Private Ltd.
The NCLT, which previously reserved its verdict, pronounced the order today, the bankrupt infrastructure developer said in a stock exchange announcement.
The tribunal also passed the order related to reconciliation of 750 crore rupees ($91.68 million) deposited by its parent Jaiprakash Associates Ltd. and interest thereon between Jaypee Infratech/its homebuyers and Jaiprakash Associates, it added.
Jaypee Infratech was undergoing insolvency resolution since 9 August 2017.
(Note: $1 = 81.8090 Indian rupees)
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