Page 2 - Jaypee Infra Insolvency

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.

Jaypee Infra lenders ask NBCC to take govt, regulatory nod on resolution

Lenders of Jaypee Infratech have asked state-owned NBCC to take the government's approval for the revised bid that it has submitted to acquire the bankruptcy-bound real estate firm.

Rs 750 cr paid by JAL was towards obligation of Jaypee Infratech: NCLT

The NCLT Delhi bench on Tuesday approved the bid of state-owned NBCC to acquire debt-laden JIL through an insolvency process and complete around 20,000 pending flats over the next three and half years

SC upholds IBC amendments, status of homebuyers as financial creditors

The bench said only genuine homebuyers can invoke insolvency proceedings against the builder and asked the Centre to file an affidavit taking the corrective measures

Jaypee homebuyers' body urges lenders, flat owners to vote for NBCC bid

This is the third round of bidding process, which has been initiated on the direction of the apex court.

Jaypee Infra lenders to put bids of NBCC, Suraksha on vote simultaneously

Anuj Jain was appointed as an interim resolution professional (IRP) to conduct insolvency process and also manage the affairs of the company.

Jaypee Infra: Suraksha may offer higher compensation to buyers, lenders

NBCC Ltd is also actively considering offering more land to lenders and reduce timeline for completion of about 20,000 flat

Jaypee Infra insolvency: NBCC may offer more land to lenders in final bid

For homebuyers, NBCC is looking to reduce the deadline for completing pending flats from four years timeline proposed in the bid submitted on November 17

Homebuyers seek further talks on NBCC's revised bid for Jaypee infra

Homebuyers of Jaypee Infratech want NBCC to acquire the debt-laden firm in an ongoing insolvency process and have asked their representative in a panel of creditors to further negotiate on the bid submitted by the state-owned firm. P&A Law Offices, which represents and advises nine registered homebuyers associations, has written a letter to Kuldeep Verma, who is an authorised representative of homebuyers in a committee of creditors (CoC). "The homebuyers unequivocally wish that NBCC should take over the JIL (Jaypee Infratech Ltd)....You are hereby instructed to endeavour to negotiate with NBCC so that its revised bid can be voted upon first," the letter said. The law firm pointed out that the bid of Suraksha Realty, which is also in the race to acquire JIL, could be first put for voting process as per the current result of evaluation of resolutions plans of the two contenders. While negotiating with the NBCC, homebuyers have asked their representative Verma to ensure claim for ...

Jaypee Infra lenders discuss NBCC, Suraksha bids; to meet again by Nov-end

As many as 13 banks and over 23,000 home buyers have voting rights in the CoC. Buyers have nearly 60 per cent votes. For the bid to be approved, 66 per cent votes are required.

NBCC sweetens bid to buy Jaypee Infra; offers more land, flats to lenders

Jaypee Infratech owed nearly Rs 10,000 crore to bankers

Top headlines: Nilekani's take on Infosys crisis; H1-B denials hit IT firms

From H1-B visa to Infosys' whistleblower case, here are the top news stories that made headlines today

SC orders completion of Jaypee Infra insolvency resolution within 90 days

A bench of justices A M Khanwilkar and Dinesh Maheshwari said it is passing directions in an "exceptional situation" to do complete justice to home buyers, Jaypee group and banks concerned.

Corporate debtors set to get IBC immunity against attachment of assets

The MCA has received several representations from companies including JSW and Tata Steel regarding issues that cropped up after the closure of the insolvency and bankruptcy process

Ready to give tax breaks if NBCC completes Jaypee's projects: Centre to SC

Apex court seeks NBCC's response by Thursday, rejects for now Jaypee's proposal for 100 per cent due repayment

From Wipro results to Kulbhushan verdict, here are top events of the day

The International Court of Justice will pronounce the verdict on Kulbhushan Jadhav

Jaypee infratech creditors meet to check progress of insolvency proceedings

According to sources, the decision on whether to consider bids of Adani Group or Jaypee Group would be taken after a hearing in this matter in the National Company Law Appellate Tribunal on July 2

Jaypee Infra insolvency: 23,000 home buyers, 13 banks vote on NBCC bid

Majority of homebuyers are likely to vote in favour of the NBCC's bid but many also fear that lenders may reject it as they do not want to take up to 60% hair-cut