Reserve Bank of India has moved Supreme Court, seeking permission to initiate insolvency proceedings against Jaiprakash Associates Ltd. Jaiprakash Associates, parent company of Jaypee Infratech Limited, is among the 12 companies against which the RBI, through a 13 June directive, asked banks to file insolvency petitions. <br/><br/>The RBI application was mentioned yesterday before a bench headed by Chief Justice Dipak Misra. He said the bench will hear the matter today.<br/><br/>The court was hearing an application filed in a public interest litigation by Delhi resident, who has booked a home in a Jaypee Infratech project.<br/><br/>