The Supreme Court today revived the insolvency proceedings against real estate major Jaypee Infratech Ltd and gave its management control to the Interim Resolution Professional (IRP), appointed by the National Company Law Tribunal, with immediate effect. <br/><br/>The apex court restrained the managing director and directors of the company from travelling abroad without its permission and asked its parent company, Jaypee Associates, to deposit 2000 crore rupees with the registry to safeguard the interest of the home buyersThe bench, which also comprised Justices A M Khanwilkar and D Y Chandrachud, allowed Jaypee Associates to raise 2000 crore rupees by selling land or properties and depositing it in the apex court registry by October 27. <br/><br/>The top court asked Jaypee Infratech to hand over the records to the IRP for drafting a resolution plan indicating protection of interests of over 32,000 hassled home buyers and creditors. <br/><br/>It also stayed any other proceedings instituted against Jaypee Infratech for any purpose in any forum like the<br/>consumer commission, as IRP has been given control of the company's management. <br/><br/>A bench of Chief Justice Dipak Misra said, they are not concerned about the interest of company and are only concerned about the home buyers, who are mostly of lower and middle-class strata. <br/><br/>The court posted the matter for hearing on November 13. The apex court also appointed senior advocate Shekhar<br/>Naphade as amicus curiae to assist the proceedings of the IRP, which will submit a resolution plan indicating how to safeguard the interest of home buyers and secured creditors.