Two independent directors of Jaypee Infratech resign

Two independent directors of Jaypee Infratech resign
11/09/2018 , by , in News/Views

Jaypee Infratech Ltd, which is facing insolvency proceedings, Monday said that the company’s two independent directors — Keshav Prasad Rau and Basant Kumar Goswami — have resigned.
While Rau has cited personal reasons for the resignation, Goswami resigned because of his growing age and indifferent health, the debt-ridden firm said in a regulatory filing.

The Interim Resolution Professional (IRP) will place the resignations for acceptance in the next meeting of the Committee of Creditors (CoC).

Last week, Jaypee Infratech — part of the crisis-hit Jaypee group — had said that a meeting of the CoC would be held on September 12 but did not mention the agenda.

According to sources, the CoC in its meeting will restart the resolution process and appoint IRP for conducting the fresh bidding process.

Last month, the Supreme Court ordered to invite fresh bids.

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