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

Few outside Mumbai realty circles had heard of Suraksha group till it won the race for Jaypee Infratech by pipping government-owned NBCC India. The acquisition, which has been in the works for four years, will result in resolution of Rs 22,600 crore of debt given by Indian lenders to Jaypee Infratech, which was sent to bankruptcy court in August 2017.

With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai’s real estate market over the past year. So what