Independent Director Of Jaypee Infratech Resigns

Independent Director Of Jaypee Infratech Resigns
18/09/2018 , by , in News/Views

Jaypee Infratech, which is facing insolvency proceedings, on Monday said the company’s independent director Sham Lal Mohan has resigned citing personal reasons.

Last week, three independent directors Lalit Bhasin, Keshav Prasad Rau and Basant Kumar Goswami had resigned from the board. Goswami resigned because of his growing age and indifferent health, and others cited personal reasons.

The interim resolution professional will place the same for acceptance in the next meeting of the committee of creditors.

The National Company Law Tribunal had admitted the application by an IDBI Bank-led consortium last year, seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code.

The tribunal had appointed Anuj Jain as an interim resolution professional to mange the company’s business, who later invited bids from investors interested in acquiring Jaypee Infratech and completing the stuck real estate projects in Noida and Greater Noida.

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