Jaypee company 3rd in group to face insolvency

State Bank of India has moved the National Company Law Tribunal (NCLT) to initiate insolvency action against Jaiprakash Associates Ltd, the flagship company of Jaypee group, putting the fate of thousands of homebuyers in Jaypee Greens, Jaypee Wishtown and Jaypee Greens Sports City, including the F1 track, in uncertainty. The number of units that will be impacted was not readily available.

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