Alarmed by active bidders, Jaypee Infratech tries to reclaim firm

Claims it can complete unfinished housing projects by 2021

As multiple bidders, starting with Sudhir Valia of Suraksha Asset Reconstruction Company to Adani Group, eye taking over beleaguered real estate biggie Jaypee Infratech (JIL), fears of the valuation of the company being slashed to less than half are making the promoters rush to the Supreme Court (SC) to reclaim the company.

While the bidders are making offers ranging between Rs 70 billion and Rs 80 billion, sources close to JIL said that the valuation of the company was not less than Rs 160 billion. “The company has over 3,300 acres, lying unused. That itself is worth over Rs 100