Jaypee Infratech lenders ask NBCC to take government, regulatory nod on resolution
NEW DELHI: Lenders of Jaypee Infratech have asked state-owned NBCC to take the government’s approval for the revised bid that it has submitted to acquire the bankruptcy-bound real estate firm. NBCC, which offered 1,526 acre of land to lenders, has also been asked to give the break-up and locations where these land parcels are situated […]
Jaypee Infratech creditors to meet on June 20 to decide future course
NEW DELHI: Jaypee Infratech’s creditors, which include banks and home buyers, will meet on June 20 to assess the progress of the ongoing insolvency process and decide future course of action. The meeting has been called days after majority of banks voted against state-owned NBCC’s bid to acquire the debt ridden realty firm. A meeting […]
Jaypee Infratech home buyers may stop paying EMIs
NEW DELHI: As the voting process on the NBCC’s bid for Jaypee Infratech (JIL) ends on Monday, with no signs of the public sector enterprise getting through, sources say, home buyers plan to stop paying the ongoing EMIs (equated monthly installment) as many of them have “lost hope of a resolution”. The online voting on […]
NCLAT says banks can vote against NBCC proposal for Jaypee Infratech
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Monday clarified that lenders can vote against the NBCC’s proposal to acquire debt-ridden Jaypee Infratech and directed for completion of the ongoing voting process. Lenders consortium, led by IDBI Bank, had approached NCLAT seeking permission to vote against NBCC bid. The voting process started on […]
Jaypee Infra insolvency: Homebuyers want NBCC bid to be reconsidered
NEW DELHI: Distressed homebuyers of debt-ridden Jaypee Infratech on Thursday demanded that state-owned NBCC’s bid to acquire the realty firm should be reconsidered as they do not have any faith in private companies. Representatives of nine homebuyers’ associations of Jaypee Infratech’s housing projects in Noida, Uttar Pradesh, said that Jaypee group promoters are interfering in […]
Kotak, L&T, NBCC, two others submit EoI to take over Jaypee Infratech
NEW DELHI: 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. Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain had in October initiated a fresh initiative to revive Jaypee Infratech on NCLT’s direction […]
Another independent director of Jaypee Infratech resigns; fourth in last one week
NEW DELHI: Jaypee Infratech, which is facing insolvency proceedings, on Monday said that the company’s independent director Sham Lal Mohan has resigned citing personal reasons. Last week, three independent directors Lalit Bhasin, Keshav Prasad Rau and Basant Kumar Goswami had resigned from the board. Goswami resigned because of his growing age and indifferent health, and […]
Two independent directors of Jaypee Infratech resign
NEW DELHI: Jaypee Infratech Ltd, which is facing insolvency proceedings, Monday said that the company’s two independent directors — Keshav Prasad Rau and Basant Kumar Goswami — have resigned. While Rau has cited personal reasons for the resignation, Goswami resigned because of his growing age and indifferent health, the debt-ridden firm said in a regulatory […]