According to sources, NBCC and Suraksha group submitted their revised bids on Monday. Suraksha group has now offered a line of credit of Rs 3,000 crore as working capital for construction of projects as against the earlier proposal of Rs 2,000 crore, the sources said. It has also given an undertaking that any shortfall to the dissenting creditors will be met.
NBCC is offering up to 1,903 acres of land while Surakasha group has proposed over 2,600 acres to the lenders. Suraksha group has earmarked 1,486 acres to dissenting lenders out of the total land parcels offered in the proposal. NBCC has provided an additional 377 acres of land in case dissenting financial creditors are not satisfied with its original offer of 1,526 acre, taking its total offer to up to 1,903 acre.
Ahluwalia Contracts settles plea filed by operational creditor
May 11, 2021
On its part, A2 Interiors Products applies to withdraw the insolvency process initiated by the NCLT’s Delhi bench
Ahluwalia Contracts (India) Ltd has settled the payment issues with its operational creditor A2 Interiors Products and has sought to withdraw the insolvency process initiated by the National Company Law Tribunal (NCLT).
The matter has been amicably resolved and settled with A2 Interiors Products, who has, in turn, filed for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) with the Interim Resolution Professional (IRP) and NCLT, Ahluwalia Contracts said in a statement.
Jaypee Infra insolvency: NBCC, Suraksha submit revised bids
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Last Updated: May 11, 2021, 08:50 PM IST
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Synopsis
New Delhi, May 11 () State-owned 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.
The CoC rejected the bids of Suraksha Realty and NBCC in the second round held in May-June 2019.
State-owned 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. According to sources, NBCC and Suraksha group submitted their revised bids on Monday.
Jaypee Infratech insolvency: NBCC sweetens bid, to offer up to 1,903 acres land to lenders
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Jaypee Infratech insolvency: NBCC sweetens bid, to offer up to 1,903 acres land to lendersPTI
Last Updated: Apr 30, 2021, 12:16 AM IST
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Synopsis
Earlier this month, NBCC and Mumbai-based Suraksha group submitted their fresh bids to acquire Jaypee Infratech through the insolvency process, as per the direction of the Supreme Court. According to sources, a meeting of committee of creditors (CoC) was held on Thursday to discuss the bids of both the parties.
Agencies
NBCC has revised its bid to offer up to 1,903 acre land parcels, mainly in Noida and Greater Noida in Uttar Pradesh.
Claims of Rs 160 crore filed against Oyo subsidiary as NCLAT refuses to stay corporate insolvency proceedings
9 hours ago
Creditors have submitted claims for Rs 160 crore from Oyo subsidiary Oyo Hotels and Homes Pvt. Ltd. (OHHPL), against which a corporate insolvency proceeding began earlier this month under the directions of the National Company Law Tribunal. This was first reported by Entrackr.
On April 7, the NCLT had admitted OHHPL under the corporate insolvency resolution process after one of its hotel partners filed a Rs 16 lakh claim against the company. The petition to begin insolvency proceedings was filed by Rakesh Yadav, who was owed Rs 16 lakhs in dues, since OHHPL started defaulting on payments. The tribunal had asked OHHPL’s creditors to file their claims with proof to Keyur J Shah, the appointed interim resolution professional by April 15.