IDBI moves SC to restore insolvency case on Jaypee Infratech

IDBI Bank moved the Supreme Court on Tuesday seeking restoration of insolvency proceedings against Jaypee Infratech. "By staying the insolvency process the court gave the company back to its promoters," the bank told the court. Notably, National Company Law Tribunal in August initiated insolvency proceedings against Jaypee Infratech, which is yet to deliver flats to around 32,000 homebuyers.