Jaypee Infratech News

As per Sources, the department did not make any plea when the case was being heard by the NCLT's Delhi bench and the latest move is surprising.

NCLT approves Suraksha group's bid for Jaypee Infratech

A day before the start of the voting process, the two contenders NBCC and Suraksha held separate webinars on Sunday with hundreds of homebuyers to explain their resolution plans and address doubts of flat owners

Improving its offer, Suraksha has now promised to issue non-convertible debentures worth ₹1,200 crore to banks, taking its total offer to nearly ₹7,800 crore

The order passed by apex court bench headed by Justice AM Khanwilkar was done in order to ensure that there is no further delay in execution of the approved resolution plan of NBCC and to ensure that the homebuyers get the possession of their homes at the earliest

Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in August 2017The successful resolution will provide a big relief to over 20,000 homebuyers across various housing projects launched by Jaypee Infratech

NBCC's resolution plan has been approved by the Committee of Creditors with 97.36% votingJaypee Infratech's Interim Resolution Professional had admitted homebuyers' claim amounting to over ₹13,000 crore and lenders' claim of nearly ₹9,800 crore

As many as 13 banks and over 23,000 homebuyers have voting rights in the CoCThe Committee of Creditors had decided to put to vote the offers of both NBCC and private sector firm Suraksha Realty to acquire Jaypee Infratech

The CoC, in its meeting on 7 December, decided to put to vote both NBCC Ltd and private sector firm Suraksha Realty to acquire the bankrupt realty firm

After several round of offers, NBCC and Suraksha Realty have made the final bidding offer to complete the projectAccording to the government, there are about 1,600 stalled housing projects, consisting of about 458,000 units, across the country