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jaypee infratech

Jaypee Infratech appoints Devang Pravin Patel as CFO; to delist company shares from bourses

Jaypee Infratech appoints Devang Pravin Patel as CFO; to delist company shares from bourses

Thu, Jun 13, 2024

Suraksha Group, which has taken control of Jaypee Infratech ltd (JIL) after approval from the appellate tribunal NCLAT last month, will delist JIL from stock exchanges.

NCLT approves Suraksha group's bid for Jaypee Infratech; relief for more than 20,000 homebuyers

NCLT approves Suraksha group's bid for Jaypee Infratech; relief for more than 20,000 homebuyers

Sun, May 07, 2023

The National Company Law Tribunal (NCLT) on Tuesday approved the Mumbai-based Suraksha group's bid to buy Jaypee Infratech Ltd, a development that comes as a relief for more than 20,000 homebuyers nearly six years after the debt-ridden company entered into the insolvency process.

Jaypee insolvency case: Creditors' panel approves Suraksha group's offer; rejects NBCC bid

Jaypee insolvency case: Creditors' panel approves Suraksha group's offer; rejects NBCC bid

Fri, Aug 20, 2021

Construction firm NBCC and Suraksha group submitted their final resolution plans on Wednesday to acquire Jaypee Infratech Ltd (JIL) in the fourth round of corporate insolvency resolution process.

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Suraksha group gets lenders, homebuyers' approval to buy Jaypee Infratech

Suraksha group gets lenders, homebuyers' approval to buy Jaypee Infratech

Wed, Jun 23, 2021

Mumbai-based Suraksha group on Wednesday received the approval of financial creditors and homebuyers to takeover debt-laden Jaypee Infratech Ltd (JIL), a development that raises hopes for homebuyers in getting possession of their flats after many years of delay.

Exclusive: NBCC, Suraksha Realty to submit bids to Jaypee Committee of Creditors today - What sources revealed to Zee Business

Exclusive: NBCC, Suraksha Realty to submit bids to Jaypee Committee of Creditors today - What sources revealed to Zee Business

Fri, Jun 04, 2021

Financial creditors of embattled Jaypee Infratech’s fate likely to be sealed today as both NBCC and Suraksha Realty are likely to submit their respective bids today after the Committee of Creditors of Jaypee gave extra time to both the realty companies last week.

Jaypee Infra case: NCLAT asks CoC to frame norms for new bids

Jaypee Infra case: NCLAT asks CoC to frame norms for new bids

Wed, Jul 17, 2019

The two-judge Bench, headed by NCLAT Chairman Justice S.J. Mukhopadhaya, also laid down the grounds for the terms and conditions saying there should not be any change in the apartment and amenities promised to allottees by the original developer.

Ray of hope for home buyers in Jaypee case; NCLAT to hear all parties on NBCC bid on July 17

Ray of hope for home buyers in Jaypee case; NCLAT to hear all parties on NBCC bid on July 17

Tue, Jul 02, 2019

NBCC`s bid to acquire the company was rejected by the lenders, led by IDBI Bank, in the latest round of voting, even though the home buyers were in its favour.

Jaypee Infratech insolvency: NCLAT says banks can vote against NBCC proposal

Jaypee Infratech insolvency: NCLAT says banks can vote against NBCC proposal

Mon, Jun 10, 2019

"As the voting is going on, we are not inclined to pass any orders. We make it clear that if any financial creditor remains absent from voting, their voting percentage would not be counted," the Appellate Tribunal said.

Jaypee Infra insolvency: NBCC offers Rs 20 cr to operational creditors

Jaypee Infra insolvency: NBCC offers Rs 20 cr to operational creditors

Tue, May 07, 2019

A Committee of Creditors (CoC) is scheduled to meet on May 9 to discuss the revised offer of NBCC Ltd after creditors, including bankers and home buyers, rejected the offer of Mumbai-based Suraksha Realty. NBCC's revised bid was not considered for voting by the lenders panel, citing lack of approvals from the government departments.

Jaypee Infratech insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension

Jaypee Infratech insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension

Mon, May 06, 2019

Jaypee Infratech insolvency: On January 28 this year, the NCLT had extended the period of the CIRP by another 90 days as 180 days mandated under the Insolvency and Bankruptcy Code (IBC) was ending on February 5, 2019.

Jaypee Infratech insolvency case: IDBI seeks deadline extension from NCLT

Jaypee Infratech insolvency case: IDBI seeks deadline extension from NCLT

Mon, Apr 29, 2019

According to sources, IDBI requested the tribunal to deduct the litigation period at several judicial forums, which includes the National Company Law Appellate Tribunal (NCLAT) and the Supreme Court.

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

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

Mon, Apr 29, 2019

As its bid to acquire Jaypee Infratech got rejected by lenders, state-owned NBCC has written to the interim resolution professional (IRP) that the company is interested in taking over Jaypee group firm and its offer should be considered on merit.

Jaypee Infratech lenders unlikely to entertain possible Adani Group bid; Sources

Jaypee Infratech lenders unlikely to entertain possible Adani Group bid; Sources

Mon, Apr 22, 2019

Jaypee Infratech's Interim Resolution Professional (IRP) Anuj Jain informed last week that a meeting of the committee of creditors (CoC) would be held on April 26.

Jaypee Infra buyout race picks up with Adani, NBCC bids

Jaypee Infra buyout race picks up with Adani, NBCC bids

Sun, Apr 21, 2019

As the May 6 deadline approaches to resolve the Jaypee Infratech Ltd (JIL) insolvency case, the battle to acquire the debt-laden company has become more intense with NBCC submitting a fresh bid on April 24 and the Adani Group also entering the fray.

Jaypee homebuyers can sue JAL after SC order

Jaypee homebuyers can sue JAL after SC order

Thu, Apr 18, 2019

Supreme Court has declined to stay the apex consumer commission`s order, which held that home buyers in Jaypee Infratech, can move the consumer forum against Jaiprakash Associates, for compensation and possession of their flats.

Good news for homebuyers in Noida: Evaluation criteria for process approved

Good news for homebuyers in Noida: Evaluation criteria for process approved

Fri, Dec 28, 2018

According to a regulatory filing, the committee of creditors (CoC) also approved process note for the request of resolution plan (RFRP) apart from evaluation matrix.

NBCC, Kotak among 4 shortlisted bidders for Jaypee Infra; L&T Infra out of race

NBCC, Kotak among 4 shortlisted bidders for Jaypee Infra; L&T Infra out of race

Wed, Dec 05, 2018

State-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group have been shortlisted as bidders for debt-laden Jaypee Infratech, according to a regulatory filing.

Kotak, L&T, NBCC, 2 others submit EoI to take over bankrupt Jaypee Infratech

Kotak, L&T, NBCC, 2 others submit EoI to take over bankrupt Jaypee Infratech

Tue, Nov 20, 2018

Five companies- NBCC, Kotak Investment, L&T Infrastructure, Singapore-based Cube Highways and Suraksha group -- have shown interest in taking over debt-ridden Jaypee Infratech, which is facing bankruptcy proceedings in NCLT.

Supreme Court chides Jaypee Infratech, says home for family is a basic 'human yearning'

Supreme Court chides Jaypee Infratech, says home for family is a basic 'human yearning'

Fri, Aug 10, 2018

"The home buyers have made valuable investments by contributing hard earned monies in the hope of obtaining a roof over their heads. A home for the family is a basic human yearning," the bench said.

Big setback for Jaypee Infratech homebuyers; this is what banks have done

Big setback for Jaypee Infratech homebuyers; this is what banks have done

Wed, Jul 18, 2018

JAL, which has already deposited Rs 750 crore with the apex court registry, had told the bench headed by Chief Justice Dipak Misra that it was willing to deposit Rs 600 crore more to refund money to the home buyers if it was allowed to dispose of its identified assets, including a cement plant at Rewa in Madhya Pradesh.

Hope floats: Jaypee Infratech Wishtown homebuyers set to hit court again

Hope floats: Jaypee Infratech Wishtown homebuyers set to hit court again

Fri, May 25, 2018

Hopeful of getting a fair treatment after reclassification as financial creditors, the homebuyers of Jaypee Infratech are planning to approach the court to rerun the ongoing resolution process under the amended Insolvency and Bankruptcy Code (IBC).

Home buyers oppose liquidation proposal for Jaypee Infratech

Home buyers oppose liquidation proposal for Jaypee Infratech

Mon, May 14, 2018

Home buyers of Jaypee Infratech`s (JIL) residential projects on Monday said they are opposed to the liquidation of the company or its acquisition by Jaiprakash Associates (JAL) as the latter failed to deliver flats to several buyers and it is likely to become insolvent soon

Jaypee Infratech's customers write to IRP to protect home buyers' interest

Jaypee Infratech's customers write to IRP to protect home buyers' interest

Sun, May 06, 2018

Home buyers have also questioned the criteria adopted for evaluating various bidders interested in debt-resolution of Jaypee Infratech, saying that it is "arbitrary and highly skewed in favour of financial creditors". Crisis-hit Jaypee group firm Jaypee Infratech is facing insolvency proceedings after it defaulted on loan repayments. The National Company Law Tribunal (NCLT) had last year admitted the application by an IDBI Bank-led consortium, seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code

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