The National Company Law Appellate Tribunal (NCLAT) has asked NBCC to implement its proposal to acquire debt ridden Jaypee Infratech and complete over 20,000 pending flats, but the direction is subject to its final order. The NCLAT's direction came over an urgent petition moved by the NBCC, which won the bid to acquire Jaypee Infratech. The NBCC's resolution plan has already been approved by the National Company Law Tribunal (NCLT), but appeals have been filed by the Jaypee Group as well as the NBCC.
NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.
