Jaypee Infratech creditors decide to put on vote NBCC's revised bid; homebuyers likely to favour state-run firm
5 years, 10 months ago

Jaypee Infratech creditors decide to put on vote NBCC's revised bid; homebuyers likely to favour state-run firm

Firstpost  

On Friday, lenders had written to NBCC seeking clarifications on certain relief and concessions put forward by the public sector firm in its resolution plan. New Delhi: A creditors panel of Jaypee Infratech on Tuesday decided to put on vote the revised offer of state-owned NBCC Ltd to acquire the debt-laden realty firm through insolvency proceedings, sources said. Clarifications from the NBCC were sought in the backdrop of Jaypee Infratech’s Interim Resolution Professional Anuj Jain flagging to the lenders that NBCC’s bid was conditional and non-binding. Jain had written to the CoC that NBCC’s revised bid was conditional as the state-owned firm has stated that the plan would not be binding on it unless key relief measures such as extinguishing of income tax liability and a dispensation from seeking consent of YEIDA for any business transfer is granted, sources had said.

Resolution Crore Nclt Firm Bid Lenders Nbcc Coc Infratech Jaypee Infratech Jaypee  rs  lenders  homebuyers  nbccs  infratech  favour  crore  sources  nbcc  firm  resolution  bid  revised  vote  staterun  likely  jaypee

History of this topic

NCLT approves JSW Energy’s ₹16,000 crore bid to buy KSK Mahanadi Power
1 month, 2 weeks ago

NCLT approves JSW Energy’s ₹16,000 crore bid to buy KSK Mahanadi Power

The Hindu  

In a major development, National Company Law Tribunal, Hyderabad on Thursday approved JSW Energy Ltd’s ₹16,084.08 crore resolution plan to acquire bankrupt KSK Mahanadi Power Company Ltd. As per the approved plan, against the admitted claims of over ₹26,094 crore, the KSK Mahanadi’s creditors will get ₹16,084.08 crore. The plan provides for upfront cash payment of ₹15,985.08 crore to financial …

NCLAT grants two weeks time for Supertech township's settlement proposal
6 months ago

NCLAT grants two weeks time for Supertech township's settlement proposal

Hindustan Times  

New Delhi, Sep 27 The Insolvency appellate tribunal NCLAT has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore Arora to circulate the settlement proposal to both its lenders and home buyers. Insolvency appellate tribunal NCLAT has granted two weeks more time to debt-ridden realty firm Supertech Township Projects suspended director Ram Kishore …

Adani Group Set To Bid For Jaypee Real Estate To Capture Delhi-NCR Market: Report
7 months, 4 weeks ago

Adani Group Set To Bid For Jaypee Real Estate To Capture Delhi-NCR Market: Report

ABP News  

The Adani Group is reportedly planning to bid for the Jaypee Group’s real estate portfolio. In addition to the real estate assets, which include a range of high-value properties such as apartment complexes, villas, and golf courses, Adani has also shown interest in Jaypee’s cement business. “As a resolution package, Adani may offer around Rs 15,000 crore in total to …

Suraksha Group infuses ₹125 crore in Jaypee Infratech; to start construction work in delayed projects
9 months, 2 weeks ago

Suraksha Group infuses ₹125 crore in Jaypee Infratech; to start construction work in delayed projects

Hindustan Times  

Mumbai-based Suraksha Group, that took over the embattled real estate firm Jaypee Infratech last week by constituting a three-member board, has infused ₹125 crore equity fund in JIL, as part of its resolution plan to complete 20,000 incomplete flats providing relief to homebuyers whose investments are stuck across various projects being developed in Delhi-NCR. Suraksha Group infuses ₹ 125 cr …

After several delays, Suraksha takes over debt-ridden Jaypee
9 months, 3 weeks ago

After several delays, Suraksha takes over debt-ridden Jaypee

Hindustan Times  

After a six-year long court battle, Mumbai-based Suraksha Group on Tuesday took over debt-ridden Jaypee Infratech Limited and its office-bearers assured homebuyers that the work will soon restart at project sites. We will soon prepare a road map to revive construction at the site and start delivery of apartments,” said Aalok Dave, managing director and chief executive officer, Suraksha Group. …

Suraksha Group finally takes over Jaypee Infratech; constitutes 3-member board giving relief to more than 20,000 buyers
9 months, 3 weeks ago

Suraksha Group finally takes over Jaypee Infratech; constitutes 3-member board giving relief to more than 20,000 buyers

Hindustan Times  

Mumbai-based Suraksha Group has finally taken over the embattled real estate firm Jaypee Infratech by constituting a three-member board giving relief to more than 20,000 homebuyers whose investments are stuck across various projects being developed in Delhi-NCR. Mumbai-based Suraksha Group has finally taken over the embattled real estate firm Jaypee Infratech by constituting a three-member board giving relief to more …

NCLT initiates insolvency against Jaiprakash Associates, admits ICICI Bank plea
9 months, 3 weeks ago

NCLT initiates insolvency against Jaiprakash Associates, admits ICICI Bank plea

Hindustan Times  

New Delhi, June 3 The National Company Law Tribunal on June 3 directed to initiate insolvency proceedings against debt-ridden Jaiprakash Associates Ltd, admitting the plea filed by private lender ICICI Bank. The National Company Law Tribunal on June 3 directed to initiate insolvency proceedings against debt-ridden Jaiprakash Associates Ltd, admitting the plea filed by private lender ICICI Bank Jaiprakash Associates …

NCLT allows RCap administrator’s plea on implementation of resolution plan
1 year ago

NCLT allows RCap administrator’s plea on implementation of resolution plan

Live Mint  

Mumbai: The National Company Law Tribunal on Wednesday allowed a plea by Reliance Capital's administrator, seeking directions to the Hinduja Group's IndusInd International Holdings Ltd to complete payment for the takeover in accordance with the resolution plan by 28 May. On 27 February, the NCLT gave its nod to Hinduja Group’s IndusInd International Holdings to take over the debt-laden Reliance …

NCLAT directs YEIDA, Suraksha group to settle issues over Jaypee Infratech fast
1 year ago

NCLAT directs YEIDA, Suraksha group to settle issues over Jaypee Infratech fast

Hindustan Times  

Insolvency appellate tribunal NCLAT on March 6 gave an ultimatum and said if the issues between Yamuna Expressway Industrial Development Authority and Suraksha group over Jaypee Infratech are not settled by the second week of April then it would proceed ahead. NCLAT directs YEIDA, Suraksha group to settle issues over Jaypee Infratech fast In March last year, the National Company …

Good news for homebuyers: Jaypee Infratech Limited takeover plan likely to get UP cabinet's nod soon
1 year, 1 month ago

Good news for homebuyers: Jaypee Infratech Limited takeover plan likely to get UP cabinet's nod soon

Hindustan Times  

Nearly five months after the Yamuna Expressway Industrial Development Authority approved the Mumbai-based Suraksha Group’s resolution plan to take over the stuck realty projects of Jaypee Infratech Limited, the matter is to be tabled in the cabinet meeting of the Uttar Pradesh government next week for requisite approval, said officials in the know of the matter. Yeida, in its 78th …

Jaypee Infratech insolvency case: Monitoring panel seeks NCLT’s direction to implement Suraksha Group's resolution plan
1 year, 1 month ago

Jaypee Infratech insolvency case: Monitoring panel seeks NCLT’s direction to implement Suraksha Group's resolution plan

Hindustan Times  

The five-member monitoring committee set up to oversee the Jaypee Infratech insolvency process has moved the National Company Law Tribunal seeking an appropriate direction for the smooth and effective implementation of the resolution plan that was approved in March 2023. The five-member monitoring committee set up to oversee the Jaypee Infratech insolvency process has moved the NCLT seeking an appropriate …

Jaypee homebuyers demand flat delivery
1 year, 6 months ago

Jaypee homebuyers demand flat delivery

Hindustan Times  

At least 100 Jaypee Infratech Limited homebuyers who have yet to receive their units after a decade gathered outside the main office in Wish Town Sector 128 for half an hour from 2pm on Tuesday, demanding that construction work at the projects be expedited and apartments be delivered without further delay. Around 22,000 homebuyers have yet to receive their flats …

Stocks to Watch: TCS, NTPC, IDBI Bank, Adani Enterprises, ZEE Entertainment
2 years ago

Stocks to Watch: TCS, NTPC, IDBI Bank, Adani Enterprises, ZEE Entertainment

Live Mint  

New Delhi: Here is the list of the top 10 stocks that will be in focus today: Tata Consultancy Services: The IT services major has named K. Krithivasan as chief executive after Rajesh Gopinathan unexpectedly resigned. IDBI Bank: The Union government may defer the $4 billion IDBI Bank privatization plan over concerns that unprecedented market volatility may deter prospective buyers. …

NCLT approves Suraksha group’s plan to take over Jaypee Infratech
2 years ago

NCLT approves Suraksha group’s plan to take over Jaypee Infratech

Hindustan Times  

The National Company Law Tribunal on Tuesday approved the resolution plan and bid by Mumbai based Suraksha Realty Limited and Lakshdeep Investments to take over debt-ridden realty company Jaypee Infratech Limited, thereby reigniting the hopes of thousands of aggrieved homebuyers of getting their dream homes soon. Since 2017, the Supreme Court monitored NCLT has been hearing the corporate insolvency resolution …

In relief to homebuyers, NCLT clears way for Jaypee projects
2 years ago

In relief to homebuyers, NCLT clears way for Jaypee projects

Live Mint  

MUMBAI : In a relief to homebuyers, the Delhi bench of the National Company Law Tribunal on Tuesday allowed Mumbai-based Suraksha Group’s resolution bid for Jaypee Infratech Ltd. An NCLT bench headed by Justice Ramalingam Sudhakar and Justice IN Gupta allowed the petition seeking approval of Suraksha group’s resolution plan. “On 7 March, NCLT approved the resolution plan of Suraksha …

Supertech insolvency: Here’s how homebuyers can submit claims
2 years, 11 months ago

Supertech insolvency: Here’s how homebuyers can submit claims

Live Mint  

As the National Company Law Tribunal ordered insolvency proceedings against real estate developer Supertech Ltd for default of ₹431.92 crore, the homebuyers of the project in the NCR region have a chance to submit their claims insolvency resolution professional now. Supertech, in a statement, said that it will challenge the NCLT order in the National Company Law Appellate Tribunal. "In …

NCLT orders insolvency proceedings against Supertech Ltd over Rs 432 crore default
3 years ago

NCLT orders insolvency proceedings against Supertech Ltd over Rs 432 crore default

Firstpost  

This is the second major setback for Noida-based developers in the last year. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said, “there has …

SC orders swift completion of insolvency proceedings of Jaypee Infratech
3 years, 4 months ago

SC orders swift completion of insolvency proceedings of Jaypee Infratech

Hindustan Times  

The Supreme Court on Monday ordered swift completion of Jaypee Infratech’s insolvency proceedings, as it asked the National Company Law Tribunal, Delhi, to decide the matter “preferably within two months”. “This application is disposed of with a direction to the adjudicating authority to expeditiously dispose of the proceedings concerning the resolution plan of Jaypee Infratech Ltd, preferably within two months …

SC Issues Notice In Homebuyers' Appeal Against NCLAT Order Giving Conditional Nod To NBCC Take Over Of Jaypee Infratech Project
4 years, 8 months ago

SC Issues Notice In Homebuyers' Appeal Against NCLAT Order Giving Conditional Nod To NBCC Take Over Of Jaypee Infratech Project

Live Law  

The Supreme Court on Wednesday issued notice in an appeal by 7 homebuyers under Section 62 of the Insolvency & Bankruptcy Code, 2016 against an order of the NCLAT dated April 22, 2020 whereby the tribunal also directed Jaypee Infratech's Interim Resolution Professional Anuj Jain to constitute an interim monitoring committee, comprising representatives of the NBCC and its. The Supreme …

NCLAT Directs NBCC To Implement Resolution Plan Pending Appeal in Jaypeee Infratech matter
4 years, 11 months ago

NCLAT Directs NBCC To Implement Resolution Plan Pending Appeal in Jaypeee Infratech matter

Live Law  

While hearing an urgent petition during the extended lockdown period moved by the NBCC, the National Company Law Appellate Tribunal declined to stay the implementation of the modified resolution plan and directed the state - run NBCC to acquire the debt ridden Jaypee Infratech and complete over 20,000 pending flats, but said the direction was subject to its final order.Justice. …

NCLAT gives conditional go-ahead to NBCC for acquiring Jaypee Infratech; asks IRP to form interim monitoring committee
4 years, 11 months ago

NCLAT gives conditional go-ahead to NBCC for acquiring Jaypee Infratech; asks IRP to form interim monitoring committee

Firstpost  

In its bid, the NBCC had proposed to complete over 20,000 pending flats in housing projects launched by Jaypee Infratech in Noida and Greater Noida. NCLAT allows Resolution Professional to proceed with constituting Interim Monitoring Committee for execution of plan pic.twitter.com/3aBC7AAr7Q — CNBC-TV18 April 22, 2020 The NCLAT’s direction came over an urgent petition moved by the NBCC, which won …

Rs 750 cr paid by JAL was towards obligation of Jaypee Infratech: NCLT
5 years ago

Rs 750 cr paid by JAL was towards obligation of Jaypee Infratech: NCLT

India TV News  

The Rs 750-crore deposited by Jaypee Infratech Ltd's parent firm Jaiprakash Associates with the Supreme Court registry was a payment towards obligation of the debt-ridden firm and should be treated as the asset of the corporate debtor, the NCLT has observed while approving the bid of NBCC for JIL. "Since JAL is not under further obligation to complete construction of …

NBCC gets NCLT nod to acquire debt-laden Jaypee Infratech; state-run firm to complete about 20,000 pending flats
5 years ago

NBCC gets NCLT nod to acquire debt-laden Jaypee Infratech; state-run firm to complete about 20,000 pending flats

Firstpost  

NBCC’s proposal was approved by the lenders in the third round of bidding process to find a buyer for Jaypee Infratech. New Delhi: State-owned NBCC on Tuesday got approval from the NCLT to acquire debt-laden Jaypee Infratech through an insolvency process and complete around 20,000 pending flats over the next three and half years. In a significant direction that will …

Jaypee Infra jumps over 9% on lenders approval of NBCC bid to acquire bankrupt developer
5 years, 3 months ago

Jaypee Infra jumps over 9% on lenders approval of NBCC bid to acquire bankrupt developer

Firstpost  

Jaypee Infratech’s financial creditors, including lenders and homebuyers, approved the bid of state-owned NBCC to acquire the debt-laden realty firm under insolvency process, according to sources. Shares of Jaypee Infratech on Wednesday zoomed over 9 percent after its Committee of Creditors approved NBCC’s bid to acquire the company under insolvency process. Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went …

Jaypee Infratech insolvency: Lenders, home buyers approve NBCC's bid to acquire debt-laden realty firm
5 years, 3 months ago

Jaypee Infratech insolvency: Lenders, home buyers approve NBCC's bid to acquire debt-laden realty firm

Firstpost  

Jaypee Infratech’s financial creditors, including lenders and home buyers, have approved the bid of state-owned NBCC to acquire the debt-laden realty firm under the insolvency process, according to sources New Delhi: Jaypee Infratech’s financial creditors, including lenders and homebuyers, have approved the bid of state-owned NBCC to acquire the debt-laden realty firm under insolvency process, according to sources. #CNBCTV18Exclusive | …

Jaypee Infratech homebuyers' body urges flat owners, bankers to vote for NBCC bid in insolvency process
5 years, 3 months ago

Jaypee Infratech homebuyers' body urges flat owners, bankers to vote for NBCC bid in insolvency process

Firstpost  

Jaypee Infratech’s homebuyers association has urged all flat owners and lenders to vote in favour of state-owned NBCC’s bid to acquire debt-laden realty firm as the public sector firm has the experience to develop large projects and townships in the national capital region New Delhi: Jaypee Infratech’s homebuyers association has urged all flat owners and lenders to vote in favour …

Jaypee Infratech insolvency: Suraksha Realty hopeful of getting favourable vote of lenders, homebuyers
5 years, 3 months ago

Jaypee Infratech insolvency: Suraksha Realty hopeful of getting favourable vote of lenders, homebuyers

Firstpost  

New Delhi: Mumbai-based Suraksha Realty on Monday expressed confidence that bankers and home buyers will vote in favour of its bid to acquire bankrupt realtor Jaypee Infratech, saying that the company has substantially improved its resolution plan to maximise the value for financial creditors. A Committee of Creditors on Saturday decided that homebuyers and lenders of Jaypee Infratech will vote …

Jaypee Infra lenders to put on vote bids of NBCC, Suraksha simultaneously
5 years, 3 months ago

Jaypee Infra lenders to put on vote bids of NBCC, Suraksha simultaneously

India TV News  

Lenders of Jaypee Infratech on Saturday decided to put on vote simultaneously the bids of state-owned NBCC Ltd and Suraksha Realty to acquire the bankrupt realty firm, sources said. Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in August 2017 after the National Company Law Tribunal admitted an application by an IDBI Bank-led consortium. On November …

Jaypee Infratech insolvency: Suraksha Realty may offer more cash and land to lenders, higher compensation to buyers
5 years, 3 months ago

Jaypee Infratech insolvency: Suraksha Realty may offer more cash and land to lenders, higher compensation to buyers

Firstpost  

New Delhi: Mumbai-based Suraksha Realty, which is in the race with state-owned NBCC to acquire bankrupt Jaypee Infratech, is likely to offer additional cash and land to lenders, and higher delay compensation to homebuyers to make its final resolution more lucrative for financial creditors, sources said. In the last meeting of the committee of creditors held on 28 November, lenders …

Jaypee Insolvency Case: NBCC sweetens bid by offering more land and benami flats to lenders; CoC to meet today
5 years, 4 months ago

Jaypee Insolvency Case: NBCC sweetens bid by offering more land and benami flats to lenders; CoC to meet today

Firstpost  

In 2017, Jaypee Infratech went into insolvency process after the National Company Law Tribunal admitted an application by an IDBI Bank-led consortium. New Delhi: State-owned NBCC Ltd on Sunday sweetened its bid to acquire bankruptcy-bound Jaypee Infratech, by offering lenders 1,426-acre land instead of 950 acres earlier and also providing half of 3,000 benami flats to them, sources said. NBCC …

SC Seeks NBCC Response On Completing Stalled Jaypee Group Projects
5 years, 6 months ago

SC Seeks NBCC Response On Completing Stalled Jaypee Group Projects

Live Law  

The Supreme Court on Tuesday sought response from the NBCC on whether it is willing to give a revised proposal to complete the stalled projects of Jaypee group.A bench of justices A M Khanwilkar and Dinesh Maheshwari issued notice to the National Buildings Construction Corporation Limited and sought its reply by Thursday.Additional Solicitor General Madhavi Divan, appearing for the. The …

Adani Infra, NBCC among front-runners for acquisition of cash-strapped Jaypee Infratech
5 years, 7 months ago

Adani Infra, NBCC among front-runners for acquisition of cash-strapped Jaypee Infratech

New Indian Express  

Adani Infrastructure, an Adani Group company, has shown interest in bidding for the company and its counsel appealed for acceptance of its bid during the recent NCLAT hearing. Mukhopadhaya, said: "We have given an opportunity to all the eligible persons to file 'expression of interest'/ 'resolution plan', individually or jointly, or in concert with any person." The state-run construction major …

NCLAT sets aside order directing return of land to Jaypee Infratech
5 years, 7 months ago

NCLAT sets aside order directing return of land to Jaypee Infratech

Live Mint  

The National Company Law Appellate Tribunal on Thursday set aside an NCLT order that directed Jaiprakash Associates Ltd to return 758 acres of land, which was pledged with several banks, to debt-laden Jaypee Infratech. In May last year, the Allahabad bench of the National Company Law Tribunal had asked JAL to return 758 acres of land to its subsidiary Jaypee …

Jaypee Infratech insolvency: NCLAT extends resolution period of debt-ridden company by 90 days
5 years, 8 months ago

Jaypee Infratech insolvency: NCLAT extends resolution period of debt-ridden company by 90 days

Firstpost  

The National Company Law Appellate Tribunal on Tuesday extended the resolution period of debt-ridden Jaypee Infratech for another 90 days, starting from receipts of the order New Delhi: The National Company Law Appellate Tribunal on Tuesday extended the resolution period of Jaypee Infratech for another 90 days, which includes a 45-day window for the resolution professional and lenders of the …

Will pay creditors entire amount; complete due projects in 3 yrs: Jaypee Infra
5 years, 8 months ago

Will pay creditors entire amount; complete due projects in 3 yrs: Jaypee Infra

Live Mint  

Promoters of debt-ridden Jaypee Infratech on Monday proposed before the NCLAT that they will pay creditors entire outstanding amount without any hair cut and complete pending projects within three years. The National Company Law Appellate Tribunal reserved its order over exclusion of litigation period from the ongoing Corporate Insolvency Resolution Process of Jaypee Infratech. Lenders are requesting to exclude the …

Jaypee Infratech promoters to pay creditors entire outstanding amount; says will complete pending projects in 3 years
5 years, 8 months ago

Jaypee Infratech promoters to pay creditors entire outstanding amount; says will complete pending projects in 3 years

Firstpost  

New Delhi: Promoters of debt-ridden Jaypee Infratech on Monday proposed before the NCLAT that they will pay creditors entire outstanding amount without any hair cut and complete pending projects within three years. The National Company Law Appellate Tribunal reserved its order over the exclusion of litigation period from the ongoing Corporate Insolvency Resolution Process of Jaypee Infratech. A two-member bench …

Jaypee insolvency: NCLAT asks IDBI Bank to file affidavit listing out new terms for fresh bidding
5 years, 8 months ago

Jaypee insolvency: NCLAT asks IDBI Bank to file affidavit listing out new terms for fresh bidding

Firstpost  

All the 13 banks, which constitute 40.75 percent of CoC, voted against the bid by the state-run firm to acquire Jaypee Infratech. New Delhi: The National Company Law Appellate Tribunal Wednesday directed IDBI Bank, the lead lender of debt-ridden Jaypee Infratech, to file an affidavit listing out new terms and conditions if a fresh bidding process is conducted. During the …

Jaypee Infratech insolvency: NCLAT says banks can vote against NBCC proposal to acquire debt-ridden company
5 years, 9 months ago

Jaypee Infratech insolvency: NCLAT says banks can vote against NBCC proposal to acquire debt-ridden company

Firstpost  

New Delhi: The National Company Law Appellate Tribunal on Monday clarified that lenders can vote against the NBCC’s proposal to acquire debt-ridden Jaypee Infratech and directed for the completion of the ongoing voting process. We make it clear that if any financial creditor remains absent from voting, their voting percentage would not be counted,” the Appellate Tribunal said. In 2017, …

Jaypee Infratech insolvency: Lenders put five conditions to state-owned NBCC for considering bid
5 years, 10 months ago

Jaypee Infratech insolvency: Lenders put five conditions to state-owned NBCC for considering bid

Firstpost  

New Delhi: Lenders of Jaypee Infratech have asked state-owned NBCC to sweeten its bid to acquire the debt-laden realty firm and have demanded that the public sector firm should offer 1,426-acre land instead of 950 acre besides taking onus of getting approvals from income tax and development authorities. The IDBI-led lenders’ consortium has written to NBCC that its bid would …

Jaypee Infratech lenders start negotiations on NBCC's bid to acquire realty firm as per NCLAT order
5 years, 10 months ago

Jaypee Infratech lenders start negotiations on NBCC's bid to acquire realty firm as per NCLAT order

Firstpost  

Jaypee Infratech went into insolvency process in 2017 after the National Company Law Tribunal admitted an application by an IDBI Bank-led consortium seeking resolution of the realty firm New Delhi: State-owned NBCC is unlikely to dilute certain conditions, including exemption from tax liability, in its offer for debt-laden Jaypee Infratech but is ready to negotiate on the proposal related to …

NCLAT annuls lenders’ voting on NBCC’s bid to acquire Jaypee Infratech
5 years, 10 months ago

NCLAT annuls lenders’ voting on NBCC’s bid to acquire Jaypee Infratech

Live Mint  

New Delhi: The National Company Law Appellate Tribunal on Friday annulled voting by the committee of creditors on state-owned NBCC's bid to acquire Jaypee Infratech. Hearing a plea by IDBI Bank, seeking a stay or annulment of the voting process, a three-member bench of the NCLAT headed by chairman justice S.J. IDBI Bank, the biggest lender to the debt-laden realty …

Jaypee Infratech insolvency: Over 23,000 homebuyers, 13 banks start voting on NBCC's bid; result to be out on 20 May
5 years, 10 months ago

Jaypee Infratech insolvency: Over 23,000 homebuyers, 13 banks start voting on NBCC's bid; result to be out on 20 May

Firstpost  

The financial creditors would vote for the second time on the resolution plan for Jaypee Infratech, a subsidiary of Jaiprakash Associates Ltd. New Delhi: Homebuyers and lenders of debt-laden Jaypee Infratech on Thursday started voting on state-owned NBCC’s bid to acquire Jaypee group’s realty firm and complete the construction of over 20,000 flats. The financial creditors would vote for the …

NBCC decides not to dilute conditions in revised offer for Jaypee Infratech; lenders flag serious concerns about conditional bid
5 years, 10 months ago

NBCC decides not to dilute conditions in revised offer for Jaypee Infratech; lenders flag serious concerns about conditional bid

Firstpost  

The NBCC’s revised bid to acquire Jaypee Infratech and complete the work of over 20,000 flats would be discussed on 14 May by CoC New Delhi: NBCC on Monday decided against diluting certain conditions, including exemption from tax liability, in its revised offer for debt-laden Jaypee Infratech even as lenders have flagged serious concerns about the state-owned firm’s conditional bid, …

Jaypee Infratech takeover: Lenders seek clarification from NBCC on revised bid; creditors' panel to meet again on 14 May
5 years, 10 months ago

Jaypee Infratech takeover: Lenders seek clarification from NBCC on revised bid; creditors' panel to meet again on 14 May

Firstpost  

NBCC was also asked how it will fund the takeover of Jaypee Infratech, sources said adding that NBCC officials answered all the queries. New Delhi: Lenders of Jaypee Infratech on Thursday sought clarifications from NBCC on various relief measures and concession proposed by the state-owned firm in its revised bid to acquire the debt-ridden realty company, sources said. The Committee …

Jaypee Infratech's IRP finds NBCC bid conditional, non-binding; creditors' panel meets on Thursday to discuss revised offer
5 years, 10 months ago

Jaypee Infratech's IRP finds NBCC bid conditional, non-binding; creditors' panel meets on Thursday to discuss revised offer

Firstpost  

The court-mandated deadline for completing the resolution plan for Japyee Infratech ended on 6 May and the CoC has sought an extension of the deadline. New Delhi: Realty firm Jaypee Infratech’s Interim Resolution Professional has opined that state-owned NBCC’s revised bid was conditional and non-binding, which ran contrary to terms of the insolvency proceedings, sources said. Sources said NBCC has …

Jaypee Infra insolvency: NBCC offers Rs 20 cr to operational creditors; panel to discuss revised offer on Thursday
5 years, 10 months ago

Jaypee Infra insolvency: NBCC offers Rs 20 cr to operational creditors; panel to discuss revised offer on Thursday

Firstpost  

Meanwhile, Adani group has shown interest in making bid for Jaypee Infratech, while Jaypee group too has submitted bid for regaining control of its realty firm. New Delhi: Seeking multiple concessions for acquiring bankrupt realty firm Jaypee Infratech, state-owned NBCC has offered to pay Rs 20 crore against over Rs 9,712-crore dues of operational creditors, including the Income-Tax Department and …

After govt nod, NBCC asks Jaypee Infratech RP to reconsider bid; lenders, home buyers vote on sole bid by Suraksha Realty
5 years, 10 months ago

After govt nod, NBCC asks Jaypee Infratech RP to reconsider bid; lenders, home buyers vote on sole bid by Suraksha Realty

Firstpost  

Financial creditors and home buyers of the Jaypee group realty firm are currently voting on the bid of Suraksha Realty, New Delhi: Hours after getting the government approval for its revised offer to acquire troubled realty firm Jaypee Infratech, state-owned NBCC Ltd on Wednesday asked the court-appointed resolution professional to reconsider its bid and asserted it is prepared to take …

NBCC wants lenders to consider its bid on merit to acquire bankrupt Jaypee Infratech
5 years, 11 months ago

NBCC wants lenders to consider its bid on merit to acquire bankrupt Jaypee Infratech

Firstpost  

NBCC said it entered into the insolvency proceedings of Jaypee Infratech to provide relief to over 20,000 home buyers. New Delhi: As its bid to acquire Jaypee Infratech got rejected by lenders, state-owned NBCC has written to the interim resolution professional that the company is interested in taking over Jaypee group firm and its offer should be considered on merit. …

NBCC sweetens bid to acquire Jaypee Infratech, offers land parcels worth Rs 5,000 cr to lenders
5 years, 11 months ago

NBCC sweetens bid to acquire Jaypee Infratech, offers land parcels worth Rs 5,000 cr to lenders

Firstpost  

According to sources, NBCC has offered to pay Rs 500 crore upfront to lenders and would invest about Rs 2,000-2,500 crore as funding gap to complete delayed housing projects of Jaypee Infratech. New Delhi: State-owned NBCC has sweetened its bid to acquire debt-ridden Jaypee Infratech and has now offered to give lenders Rs 5,000 crore worth land parcels, sources said. …

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