Jaypee Infratech owed nearly Rs 10,000 crore to bankers
This was one of the reasons for lenders voting out the NBCC's resolution plan in June this year
A bench of justices A M Khanwilkar and Dinesh Maheshwari said it is passing directions in an "exceptional situation" to do complete justice to home buyers, Jaypee group and banks concerned.
In the order, the tribunal also directed the YEIDA to ensure that the development work is not obstructed by the Noida development authority.
Appellate tribunal bars Jaypee Infra parent firm from submitting fresh bids
According to sources close to the issue, in the worst-case scenario, if the insolvency resolution professional does not come up with any resolution, Jaypee Infratech might head for liquidation