Jaypee Infra Insolvency

Jaypee Infratech appoints new CFO to delist shares as part of insolvency

Jaypee Infratech's shares on the BSE are currently suspended. The company, as of May 24, is under the management of Suraksha Group, following NCLAT approval

Updated On : 13 Jun 2024 | 1:22 PM IST

Jaypee Infra insolvency: Suraksha to pay 1st tranche to YEIDA before Aug 24

Mumbai-based Suraksha Group, which has recently taken control of debt-ridden realty firm Jaypee Infratech through an insolvency process, will pay the first instalment of around Rs 133 crore to Yamuna Expressway Industrial Development Authority within three months as additional compensation to farmers. On May 24, the National Company Law Appellate Tribunal (NCLAT) upheld Suraksha Realty's bid to acquire Jaypee Infratech Ltd (JIL) while directing it to pay Rs 1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) as compensation to the farmers. While upholding the National Company Law Tribunal's (NCLT) decision of March 2023, the NCLAT had said the decision was made to avoid any further delay in the implementation of the resolution plan and also to take care of the interests of all stakeholders, including homebuyers and claim of YEIDA for additional compensation of the farmers. On March 7 last year, the NCLT approved the bid of Suraksha Group to buy JIL. However, ma

Updated On : 10 Jun 2024 | 3:53 PM IST

Jaypee Infratech insolvency: Panel seeks nod for Suraksha's resolution plan

In a regulatory filing Jaypee Infratech said there would be a delay in filing of its annual results for 2022-23 fiscal and the results for the first three quarters of the current financial year

Updated On : 12 Feb 2024 | 8:53 PM IST

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

Updated On : 13 Feb 2023 | 6:53 PM IST

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 ...