NCLAT directs YEIDA, Suraksha group to settle issues over Jaypee Infratech fast
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 Law Tribunal cleared Suraksha group's resolution plan, but the process is yet to make much progress as the Yamuna Expressway Industrial Development Authority and Jaiprakash Associates have filed petitions before the National Company Law Appellate Tribunal challenging the approval. The implementation of Suraksha group's resolution plan would come as a major relief for more than 20,000 homebuyers who have invested in Jaypee Infratech projects. According to IMC's latest newsletter for giving key updates/ developments to homebuyers and fixed deposit holder, Suraksha group has informed that it has submitted a proposal for an amicable solution to YEIDA for the greater benefit of all stakeholders of Jaypee Infratech.
Will pay creditors entire amount; complete due projects in 3 yrs: Jaypee Infra
NBCC wants lenders to consider its bid on merit to acquire bankrupt Jaypee Infratech
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