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Why SC order on Jaypee Infrastructure is a win-win for all, including flatbuyers

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The Supreme Court’s decision to persist with insolvency proceedings against Jaypee Infratech while also asking the insolvency resolution professional (IRP) to ensure the concerns of home-buyers are addressed is probably the best way out of the current impasse. Last week, IDBI Bank, the lead lender to the bankrupt Jaypee, had asked the court to restore insolvency proceedings against firm. While the decision comes as some sort of reprieve for home-buyers, it does not undermine the insolvency process. Had the SC agreed to call off insolvency proceedings altogether, it would have been a big blow to the efforts of IDBI Bank and a host of........

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