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 […]
Gaurs Group to complete 10,964 Amrapali units, NBCC awards tender worth 2124 crores
NEW DELHI: NCR-based developers Gaurs group said that it has been awarded four tenders from state-run NBCC worth Rs 2,124 crore for stuck Amrapali Projects – Verona Heights, Heartbeat City and Amrapali Centurian Park with a total inventory of 10,964 flats. “Having invested in construction over the years, we are increasing our presence in the […]
NBCC bags orders worth Rs 1,165 crore in October
NEW DELHI: State-owned construction firm NBCC (India) Ltd on Monday said it has bagged business orders worth Rs 1,165.52 crore last month. “NBCC (India) Limited has secured the total business of Rs 1,165.52 crore in the month of October 2020,” the company said in a BSE filing. Last week, NBCC reported a consolidated net profit […]
P K Gupta is new CMD of NBCC
NEW DELHI: The government of India on Tuesday appointed P K Gupta as the new Chairman and Managing Director (CMD) of NBCC, an official order said. Gupta is currently serving as the Executive Director of engineering services company RITES Limited. “The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of […]
Supreme Court seeks NBCC response on completing stalled Jaypee group projects
NEW DELHI: 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 (NBCC) and sought its reply by […]
Supreme Court cancels registration, lease of Amrapali group
NEW DELHI: The Supreme Court on Tuesday cancelled the registration of the embattled Amrapali group under the Real Estate Regulatory Authority (RERA) and the lease of its properties granted by Noida and Greater Noida authorities. A bench of Justices Arun Mishra and U U Lalit appointed the National Buildings Construction Corporation (NBCC) to complete all […]
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 […]
India sells over 3% stake in NBCC to CPSE ETF
NEW DELHI: The government of India has sold 5.72 crore shares, representing 3.18 per cent stake, in state-owned NBCC Ltd to Reliance Nippon Life Asset Management Ltd, which manages central public sector enterprise exchange traded fund (CPSE-ETF), the construction company said on Friday. In a filing to the BSE, NBCC said the President of India, […]
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 […]
NBCC gets Rs 902 crore order to build AIIMS in Jharkhand
NEW DELHI: NBCC (India) Ltd., a Navratna CPSE under Ministry of Housing and Urban Affairs, has bagged a prestigious project for Planning, Designing, & Construction of All India Institute of Medical Sciences (AIIMS) in Deoghar, Jharkhand valuing Rs. 902 crore. The Project has been awarded to NBCC by the Ministry of Health & Family Welfare, […]
NBCC signs MoU with Ministry of External Affairs to build Convention Centres in Niger
NEW DELHI: State-owned PSU, NBCC (India) that it has signed an Memorandum of Understanding (MoU) with the Ministry of External Affairs (MEA) to construct Mahatma Gandhi International convention centre (MGICC) at Niamey, the largest city and capital of Niger in West Africa. The MoU was signed by Yogesh Sharma, Executive Director, Business Development and Prashant […]
NBCC joins hands with Construction Skill Development Council of India
NEW DELHI: NBCC (India) Ltd, has signed a Memorandum of Understanding (MoU) with Construction Skill Development Council of India (CSDCI) to train and empower 20,000 youth in the next six months and promote Skill Development in the construction sector. Through the association, NBCC and CSDCI, which is a non-profit organisation under National Skill Development Corporation […]
Supreme Court of India appoints NBCC to construct stalled projects of Amrapali Group
NEW DELHI: The Supreme Court of India on Wednesday appointed state-run NBCC to develop the stalled projects of the Amrapali Group and directed the Debts Recovery Tribunal to sell the unencumbered commercial properties of the real estate firm. The top court directed the opening of an escrow account in the apex court in which the […]