jaypee infratech

Authority Pitches Next Phase With Industrial Parks, Film City & Wider Connectivity

Last week, jaypee infratech -- part of the crisis-hit Jaypee group -- had said that a meeting of the CoC would be held on September 12 but did not mention the agenda. According to sources, the CoC in its meeting will restart the resolution process and appoint IRP for conducting the fresh bidding process.

Lenders wrote a letter to NBCC late on Friday regarding this matter, they said, adding that the public sector firm has been told to reply by May 13 as the lenders' meet has been fixed for May 14.

The National Company Law Appellate Tribunal on Tuesday extended the resolution period of debt-ridden jaypee infratech for another 90 days, starting from receipts of the order.

New Delhi, Mar 5 () IndusInd Bank has invoked 6 crore pledged shares, which make up about 4.32 per cent stake, of the crisis-hit jaypee infratech. These shares were held by jaypee infratech's promoter Jaiprakash Associates, which is the flagship company of debt-ridden Jaypee group.

Lenders of debt-ridden jaypee infratech will meet on November 18 to take forward the process of insolvency resolution after the Supreme Court directed early this month to complete the process within 90 days.

The insolvency resolution professional for jaypee infratech has accused the ailing company of “fraudulently and wrongfully” mortgaging 858 acre land to secure the loans of Jaiprakash Associates, its parent company. It has also alleged that the transaction amounted to “asset stripping”.

New Delhi, Nov 13 () Metals and mining giant Vedanta Ltd today said it has submitted a preliminary expression of interest (EoI) for jaypee infratech currently undergoing the Insolvency Resolution Proceedings (IRP).

The Supreme Court agreed to hear on Thursday a PIL on behalf of nearly 32,000 home buyers who face uncertainty over their investment in housing projects in Noida and the National Capital Region (NCR) being developed by jaypee infratech since National Company Law Tribunal (NCLT) initiated insolvency proceedings against it.

New Delhi, Apr 25 () State-owned NBCC has sweetened its bid to acquire debt-ridden jaypee infratech and has now offered to give lenders Rs 5,000 crore worth land parcels, sources said.

New Delhi, Apr 28 () 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 group has offered 2,000 equity shares of jaypee infratech for free to each home buyer as part of its Rs 10,000 crore proposal to revive the bankruptcy-hit real estate firm, sources said.

In a filing to the BSE, the company informed that it has received intimation dated September 12 from Lalit Bhasin, Independent Director, conveying his resignation from the Board with immediate effect for personal reasons and other commitments.

New Delhi, Apr 24 () State-owned NBCC Ltd Wednesday submitted its revised bid to acquire debt-ridden jaypee infratech and complete over 20,000 delayed apartments in Noida, sources said.

Lenders of debt-ridden jaypee infratech are unlikely to seek any fresh offers, including from Adani Group, till current round of bidding process is complete under the insolvency law, sources said. Last week, Adani Group threw its hat in the ring by expressing interest in submitting bid to acquire jaypee infratech and deliver over 20,000 housing units to aggrieved homebuyers.

New Delhi, Dec 13 () SBICAP Trustee Company Ltd has invoked 10 crore pledged shares of debt-ridden jaypee infratech, respresenting 7.2 per cent stake in the company. According to a regulatory filing on the BSE, SBICAP Trustee Company yesterday invoked these pledged shares.

New Delhi, May 4 () The creditors panel of debt-ridden jaypee infratech will meet on May 9 to discuss the bid of state-owned NBCC Ltd to acquire the Jaypee group realty firm.

New Delhi, May 1 () Left with no option, thousands of home buyers as well as financial creditors of debt-ridden jaypee infratech are voting on the offer submitted by Suraksha Realty, the lone player in the race to acquire the Jaypee group realty firm.

New Delhi, Apr 20 () Lenders of debt-ridden jaypee infratech will meet on April 26 to discuss the revised bids of state-owned NBCC Ltd and Suraksha group, which have been asked to sweeten their offers for acquiring the Jaypee group's realty arm.

The Allahabad high court has referred to the arbitration a dispute between Yamuna Expressway Industrial Development Authority (YEIDA) and jaypee infratech, regarding payment of enhanced compensation to land owners whose land was acquired for the construction of Yamuna Expressway.

New Delhi, May 3 () Lenders of jaypee infratech will meet on May 7 to consider Lakshadweep Pvt Ltd's Rs 7,350 crore bid to acquire the debt-laden firm, banking sources said. jaypee infratech is facing insolvency proceedings after it defaulted on loan repayments.

State-owned NBCC Ltd on Friday said it has bid to take over bankruptcy-bound jaypee infratech and complete stalled housing projects in Noida.

The insolvency resolution professional for jaypee infratech has accused the ailing company of "fraudulently and wrongfully" mortgaging 858 acres of land to secure the loans of Jaiprakash Associates, its parent company.

New Delhi, July 31 () Bankruptcy-bound jaypee infratech today reported a net loss of Rs 298.33 crore for the first quarter this fiscal. Its net loss stood at Rs 44.78 crore in the year-ago period, the company said in a regulatory filing. Total income from operations, however, rose to Rs 355.

New Delhi, May 6 () A group of home buyers of bankruptcy-hit jaypee infratech has written to IRP Anuj Jain that the interests of thousands of people who booked flats in Jaypee Wishtown project in Noida should be protected while finalising any resolution plan.