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Supreme Court’s Jaypee Ruling Casts A Shadow Over Mortgage Transactions
Top court’s ruling in Jaypee case is a cause of worry for lenders who advanced loans against mortgages and guarantees.
06 Mar 2020, 10:10 AM IST
More than 16 lenders, including State Bank of India, Axis Bank Ltd. and ICICI Bank Ltd., that were hoping to recover their dues via Jaypee Infratech Ltd.’s insolvency resolution suffered a setback as a result of the recent Supreme Court ruling. Not only have their loan transactions to parent Jaiprakash Associates Ltd. backed by the subsidiary’s properties, been set aside, they won’t even get a seat at the committee of creditors’ tabl...
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