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NCLAT Sets Aside NCLT Order Directing Return of Land to Jaypee Infratech - (02 Aug 2019)


National Company Law Appellate Tribunal (NCLAT) has quashed a National Company Law Tribunal’s (NCLT) Allahabad Bench’s May 18, 2018 order which had directed Jaiprakash Associates (JAL) to return a land bank of 858 acres to Jaypee Infratech (JIL). The land pool, which belonged to JIL, was pledged by JAL with various banks as collateral for the loans it took.


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