22 May 2019: On May 17, the National Company Law Appellate Tribunal (NCLAT) directed JIL’s CoC to renegotiate with NBCC on the revised bid by May 30 and then start afresh the voting a day later, from May 31. Agreeing… Read More ›
Jaypee Infratech
LM: Jaypee insolvency: NCLT to hear on 21 May IDBI’s plea on deadline extension
6 May 2019: Debt-ridden Jaypee Infratech’s insolvency proceedings will continue for now as the Allahabad bench of NCLT has posted the matter for hearing on May 21 after lead lender IDBI sought extension of bankruptcy process beyond the deadline that… Read More ›
FE: Jaypee Infra insolvency: Lenders reject Suraksha’s bid, may consider NBCC on May 9
4 May 2019: A very small upfront amount and perceived low value of land were the reasons for Jaypee Infratech (JIL) lenders voting against the revised bid of a consortium led by Suraksha Realty. Sources said banks and financial institutions… Read More ›
ET: Jaypee Infra insolvency: Homebuyers want NBCC bid to be reconsidered; say no faith in private cos
2 May 2019: Distressed homebuyers of debt-ridden Jaypee Infratech 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… Read More ›
FE: Jaypee Infra: Suraksha ARC makes cosmetic changes in revised resolution plan
11 April 2019: Suraksha ARC, in its revised resolution plan for the insolvent Jaypee Infratech (JIL), has proposed some cosmetic changes in the form of higher upfront payment to financial creditors and fixed deposit holders. The Sudhir Valia-promoted company has… Read More ›
ET: NBCC seeks more time to revise bid for Jaypee Infratech
10 April 2019: State-run construction company NBCC has sought an extension of more than two weeks from the Committee of Creditors (CoC) overseeing Jaypee Infratech’s insolvency resolution process to submit a revised bid for the company, said two persons with… Read More ›
BS: NBCC CMD Anoop Mittal relinquishes post after govt denies extension
5 April 2019: The government has denied NBCC Chairman Anoop Kumar Mittal service extension till his date of superannuation, resulting in his demitting office a good 10 months before he would have retired. Sources said Mittal’s term came to an… Read More ›
