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NCLAT Upholds Suraksha Realty's Resolution Plan For Jaypee Infratech, Directs Additional ₹1,334 Crore Payment To YEIDA

The National Company Law Appellate Tribunal confirmed the resolution plan proposed by Suraksha Realty Limited for Jaypee Infratech Limited as part of its Corporate Insolvency Resolution Process. The NCLAT's bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, held that Suraksha Realty must pay ₹1,334.31 crore to YEIDA over the next four years. Consequently, YEIDA was held to …

The NCLAT recently upheld a Resolution Plan which outlined provisions for the completion of approximately 96 residential towers that had remained under construction since 2011 by Jaypee Infratech Limited. However, objections were filed by Jaiprakash Associates Limited, the holding company of JIL and Manoj Gaur, the erstwhile Managing Director of JIL, against Suraksha Realty's Resolution Plan, in the National Company …

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

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 …

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 …

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