NBCC submits revised bid for debt-ridden Jaypee Infratech; to complete over 20,000 delayed apartments in Noida
5 years, 11 months ago

NBCC submits revised bid for debt-ridden Jaypee Infratech; to complete over 20,000 delayed apartments in Noida

Firstpost  

In April 2018, Jaypee Group had also submitted a Rs 10,000 crore plan before lenders to revive Jaypee Infratech, but the same was not accepted. New Delhi: State-owned NBCC Ltd on Wednesday submitted its revised bid to acquire debt-ridden Jaypee Infratech and complete over 20,000 delayed apartments in Noida, sources said. Last week, Jaypee Group promoters made a fresh attempt to retain control over its arm Jaypee Infratech by seeking the support of homebuyers for its debt resolution plan submitted under the Insolvency and Bankruptcy Code. Jaypee Group in April 2018 had also submitted a Rs 10,000 crore plan before lenders to revive Jaypee Infratech, but the same was not accepted.

Crore Noida Nclt Bid Lenders Nbcc Submitted Infratech Jaypee Infratech Suraksha Suraksha Group Jaypee Group Revised Bid Its Revised Bid  bid  submits  rs  delayed  submitted  suraksha  debtridden  jaypee  group  infratech  lenders  complete  nbcc  revised  crore  noida

History of this topic

NBCC has sold 1,900 flats of Amrapali defaulters, SC told
3 weeks, 4 days ago

NBCC has sold 1,900 flats of Amrapali defaulters, SC told

Hindustan Times  

NBCC India Ltd, tasked with constructing the distressed Amrapali housing projects, has sold 1,953 flats of homebuyers who defaulted on payments and received another 1,490 units from the court-appointed receiver for sale as buyers failed to register on the designated portal. The note by the receiver was filed following a Supreme Court order seeking a status report on homebuyers who …

Supreme Court stays order asking NBCC to complete debt-ridden realty firm Supertech homes
Trending News
1 month ago

Supreme Court stays order asking NBCC to complete debt-ridden realty firm Supertech homes

Live Mint  

New Delhi, Feb 21 The Supreme Court on Friday stayed an order appointing state-owned NBCC as the project management consultant to complete debt-ridden realty firm Supertech Ltd's 16 housing projects at nearly ₹9,500 crore cost. The bench said it would examine whether the NCLAT followed the procedure under the Insolvency and Bankruptcy Code while appointing the NBCC as a project …

NBCC sells 1,233 housing units for ₹3,217 crore in Greater Noida West; Fund to help complete Amrapali projects
1 month, 1 week ago

NBCC sells 1,233 housing units for ₹3,217 crore in Greater Noida West; Fund to help complete Amrapali projects

Hindustan Times  

NBCC Ltd, the government’s construction arm, has sold 1,233 housing units for ₹3217 crore through an e-auction in a new project in Greater Noida West. NBCC Ltd, the government’s construction arm, has sold 1,233 housing units for ₹ 3217 crore through an e-auction in a new project in Greater Noida West. State-owned NBCC said in a statement on February 11 …

NBCC To Lead Completion Of Supertech's Stalled Projects, Securing Homebuyers' Rights
3 months ago

NBCC To Lead Completion Of Supertech's Stalled Projects, Securing Homebuyers' Rights

Live Law  

In a landmark judgment, the National Company Law Appellate Tribunal Delhi bench comprising Justice Ashok Bhushan and Barun Mitra has approved NBCC Ltd.'s proposal to complete 16 incomplete projects of Supertech Limited. In an application filed by NBCC Ltd., the Supreme Court on 01.10.2024 directed that the pendency of appeals would not hinder NCLAT's examination of NBCC's proposal for 17 …

For NBCC, new order inflows are a shot in the arm
3 months, 1 week ago

For NBCC, new order inflows are a shot in the arm

Live Mint  

NBCC Ltd, a Navratna public sector undertaking in the construction space, is hogging limelight as the company has received a slew of new work orders lately. Last week, the National Company Law Appellate Tribunal appointed NBCC as the project management consultant for Supertech Ltd’s 16 real estate projects valued at ₹9,445 crore. In the September quarter, NBCC’s consolidated order book …

NBCC moves SC to complete stalled projects of realty major Supertech Ltd
6 months ago

NBCC moves SC to complete stalled projects of realty major Supertech Ltd

Hindustan Times  

New Delhi, Sep 24 The state-owned NBCC on September 24 moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. NBCC on September 24 moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled …

NBCC Plans To Complete Supetech's 50,000 Flats In Noida And Greater Noida In 3 Years
6 months, 2 weeks ago

NBCC Plans To Complete Supetech's 50,000 Flats In Noida And Greater Noida In 3 Years

News 18  

There is relief news for the people who are stuck after buying houses in Supertech Limited’s housing projects in Noida and Greater Noida. According to the report of TOI, the government company National Buildings Construction Corporation has offered to complete the construction of 50,000 flats of 17 housing projects of Supertech Limited in 3 years. To complete these pending housing …

J&K news: NBCC to develop ₹15000 crore worth satellite township in Srinagar
7 months, 2 weeks ago

J&K news: NBCC to develop ₹15000 crore worth satellite township in Srinagar

Live Mint  

State-owned NBCC Limited on Friday said it has received an order of ₹15,000 crore to develop a satellite township in Srinagar district of Jammu & Kashmir. The project involves the development of a satellite township spread over 406 acres in Rakh-e-Gund Akshah, Bemina, located in Srinagar, Jammu and Kashmir, said the company. Development of Satellite Township spread over 406 acres …

After several delays, Suraksha takes over debt-ridden Jaypee
9 months, 2 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, 2 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 …

NBCC to set up shadow lender to help save over $100 million, sources say
11 months ago

NBCC to set up shadow lender to help save over $100 million, sources say

Hindustan Times  

By Nikunj Ohri NBCC plans to set up its own non-banking finance company later this year to lower its borrowing costs for key infrastructure projects, NEW DELHI -India's state-run NBCC plans to set up its own non-banking finance company later this year to lower its borrowing costs for key infrastructure projects, according to two sources directly involved in the matter. …

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 …

NBCC to finish and deliver all 22,000 flats in Amrapali projects by end-2024
1 year, 1 month ago

NBCC to finish and deliver all 22,000 flats in Amrapali projects by end-2024

Hindustan Times  

The state-owned NBCC Limited, formerly known as National Buildings Construction Corporation, on Thursday said it will complete the remaining 22,000 apartments in Amrapali Group’s delayed housing projects in Noida and Greater Noida by end of 2024 and hand over possession to homebuyers. They are Centurian Park, in Sector Tech Zone 4, Golf Homes in Sector 4; Leisure Park in Tech …

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 …

NCLAT Delhi Admits YEIDA’s Appeal Against Jaypee Infratech Resolution Plan On Additional Compensation To Farmers
1 year, 10 months ago

NCLAT Delhi Admits YEIDA’s Appeal Against Jaypee Infratech Resolution Plan On Additional Compensation To Farmers

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Yamuna Expressway Industrial Development Authority v Monitoring Committee of Jaypee Infratech Ltd. & Ors., has admitted the appeal filed by the Yamuna Expressway Industrial Development Authority against the approved resolution plan of M/s. The Bench has passed …

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 …

NBCC receives ₹271.62 cr orders to resume stalled projects of Amrapali group
2 years, 3 months ago

NBCC receives ₹271.62 cr orders to resume stalled projects of Amrapali group

Live Mint  

NBCC Ltd, a state-owned construction company, announced on Monday that it has work orders worth ₹271.62 crore in projects from the formerly real estate company Amrapali Group. The company disclosed in a regulatory filing that it has received an order for ₹42.44 crore to build the remaining portions of the Amrapali corporate Hub at IMT Manesar in Gurugram, Haryana. The …

NCLT Delhi Dismisses Insolvency Petition Against NBCC India Ltd., A Navratna Enterprise
2 years, 9 months ago

NCLT Delhi Dismisses Insolvency Petition Against NBCC India Ltd., A Navratna Enterprise

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Mr. Dharminder Singh and Ms. Sumita Purkaysatha, while adjudicating the matter of Biosafe Lab India Pvt. Ltd. v NBCC India Ltd., has dismissed an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of Corporate Insolvency Resolution Process against NBCC India Pvt. Ltd. had awarded …

NBCC Green View: 700 Flats Need to be Vacated by Month-End. Who is NBCC and What Do they Do?
3 years, 1 month ago

NBCC Green View: 700 Flats Need to be Vacated by Month-End. Who is NBCC and What Do they Do?

News 18  

NBCC Green View society in Sector 37D, Gurugram has been in the news after Gurugram deputy commissioner Nishant Kumar Yadav asked the residents to vacate the property in two weeks, citing the safety issues. “We often hear stories about private builders cheating or developing poor quality houses and this was the reason we trusted NBCC and now look at us,” …

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, 7 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, 10 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 …

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 …

Jaypee Infratech insolvency: NCLAT extends resolution period of debt-ridden company by 90 days
5 years, 7 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 …

NCLAT asks Amtek Auto lenders to consider the resolution plans submitted by Deccan Value Investors
5 years, 8 months ago

NCLAT asks Amtek Auto lenders to consider the resolution plans submitted by Deccan Value Investors

Firstpost  

NCLAT bench slammed the committee of creditors of Amtek Auto for issuance of fresh information memorandum inviting new resolution plans. New Delhi: The National Company Law Appellate Tribunal on Wednesday asked the lenders of Amtek Auto to consider the resolution plans submitted by Deccan Value Investors along with others based on the original information memorandum inviting bids. Besides, a two-member …

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 …

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 …

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 …

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