Jaypee Infra Insolvency

Debt-ridden Jaypee Infratech Dec quarter net loss widens to Rs 601 crore

Debt-ridden Jaypee Infratech Ltd, which is undergoing insolvency resolution, on Monday reported widening of its consolidated net loss to Rs 601.24 crore for the third quarter of this fiscal. Its net loss at stood Rs 540.03 crore in the year-ago period. Total income rose to Rs 312.66 crore in the December quarter of this fiscal from Rs 294.76 crore earlier. During the April-December period of this fiscal, the consolidated net loss stood at Rs 1,825.03 crore as against a net loss of Rs 1,683.32 crore in the year-ago period. Total income rose to Rs 946.19 crore in the first three quarters of this fiscal from Rs 770.4 crore in the corresponding period of the previous year. The company is earning revenue from the Yamuna Expressway Project that connects Greater Noida to Agra, as well as its healthcare business. Jaypee Infratech Ltd is facing corporate insolvency resolution process (CIRP) since August 2017. In November last year, the National Company Law Tribunal (NCLT) reserved its o

Jaypee Infra insolvency: Lenders, except ICICI Bank, assign debt to NARCL

Debt-ridden Jaypee Infratech, which is facing insolvency proceedings, on Tuesday said that all the consortium lenders -- excluding ICICI Bank -- have assigned their debt to National Asset Reconstruction Company Ltd (NARCL). Jaypee Infratech Ltd (JIL) is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the provisions of the Insolvency & Bankruptcy Code (IBC) following an order dated August 9, 2017, passed by the Allahabad-Bench of National Company Law Tribunal (NCLT). The case has been reserved for orders on the approval of the resolution plan in respect of JIL before the NCLT, Principal Bench, Delhi. In a regulatory filing, JIL said the company has been financed by a consortium of lenders comprising IDBI Bank Ltd, India Infrastructure Finance Company Ltd, Union Bank of India, Life Insurance Corporation of India, State Bank of India, Canara Bank, Bank of Maharashtra, IFCI Ltd, J&K Bank Ltd and ICICI Bank -- which also form part of the Committee of ...

Jaypee Infra insolvency: NCLT to hear Suraksha resolution plan on Mar 7, 9

The National Company Law Tribunal (NCLT) will hear on March 7 and March 9 matters related to approval of the Suraksha group's bid to acquire debt-ridden realty firm Jaypee Infratech Ltd

Jaypee Infra: Suraksha group expects NCLT nod by March through IBC

Suraksha group said the company expects to get the approval of the NCLT by March to acquire Jaypee Infratech Ltd (JIL) through insolvency process and complete around 20,000 flats for homebuyers

Jaypee insolvency: IRP files Suraksha group's resolution plan with NCLT

A successful resolution of JIL will provide a big relief to over 20,000 homebuyers across various housing projects launched by the realty developer in Noida and Greater Noida (Uttar Pradesh).

Top headlines: Govt's Rs 6.3 trn package, upGrad to join unicorn club

Business Standard brings you the top headlines on Tuesday

Suraksha group may have to cross legal hurdles to take control of Jaypee

With Jaypee in its kitty, Suraksha will get highly visible assets such as the Noida-Agra Expressway and the land bank around the expressway, and 730-bed hospitals in Noida and Bulandshahr

Jaypee Infra insolvency: IRP seeks extension of process from SC till July 7

State-owned NBCC and Suraksha group are in the fray to acquire the debt-laden realty firm Jaypee Infratech Ltd (JIL) and complete over 20,000 pending flats for homebuyers

NBCC submits final bid to buy Jaypee Infra; Suraksha seeks more time

State-owned NBCC on Friday submitted its final bid to acquire Jaypee Infratech Ltd (JIL) while rival Suraksha group sought more time to make the final offer for the debt-laden realty firm

Jaypee Infra: NBCC, Suraksha get time till June 4 to submit revised bids

The development comes after the Supreme Court in April ordered submission of fresh plans by NBCC and Suraksha.

Jaypee Infra case: NBCC, Suraksha get more time to submit final bids

Financial creditors of embattled Jaypee Infratech have decided to give more time to state-owned NBCC and Suraksha group to submit their final bids to acquire the realty firm through insolvency process

Revised offer for Jaypee Infratech is legally compliant, says NBCC

At its meeting held on May 24, the Committee of Creditors (CoC) deferred the voting on Suraksha Group's bid

Long wait for banks and homeowners on Jaypee Infra debt resolution

CoC to vote on NBCC's offer today

CoC to review NBCC offer for Jaypee Infra on Monday before vote on Suraksha

Homeowners, Suraksha cry foul; say move illegal as per SC order

Committee of creditors rejects NBCC resolution plan for Jaypee Infratech

Lenders to vote on Suraksha plan from Monday

Jaypee Infra insolvency: Suraksha ARC objects to NBCC's post-deadline offer

CoC to meet today as NBCC sweetens Jaypee Infra offer

Jaypee Infratech insolvency: Suraksha emerges as the highest bidder

The company was sent for debt resolution in 2017 under the Insolvency and Bankruptcy Code 2016 after it defaulted on debt worth Rs 22,000 crore and failed to construct houses in time for homeowners

Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids

State-owned NBCC and Suraksha group, which are in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), will submit their revised bids by Tuesday

Jaypee Infra insolvency: Financial creditors meet on May 15 to discuss bids

Lenders and homebuyers of Jaypee Infratech will meet on May 15 to discuss the revised bids submitted by state-owned NBCC and Suraksha group to acquire debt-laden realty firm through insolvency process

Jaypee Infra insolvency: NBCC, Suraksha group submit revised bids

NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised bids and improved their offers for financial creditors.