Noida: Wish Town buyers have demanded that the committee of creditors (CoC) in the Jaypee Infratech Limited (JIL) insolvency resolution should award a.
NBCC submits revised bid for Jaypee Infratech
By IANS |
Published on
Tue, May 11 2021 19:36 IST |
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NBCC submits revised bid for Jaypee Infratech. . Image Source: IANS News
New Delhi, May 11 : NBCC (India) Ltd on Tuesday said that it has submitted a revised bid for the insolvent Jaypee Infratech. In consideration of further discussions and meetings with financial creditors and other stakeholders, NBCC has again submitted the revised Resolution Plan for Jaypee Infratech Limited on May 10, 2021, NBCC said in a regulatory filing.
In April, both the state-run construction major and Suraksha Realty had submitted fresh resolution plans for Jaypee Infratech.
The development came after the Supreme Court on March 24 extended the timeline for the resolution of Jaypee Infratech Ltd (JIL) by another 45 days and directed the interim resolution professional to invite fresh bids from NBCC and Suraksha Realty.
In a call with the IRP on Tuesday, homebuyers said they will agree to an extension only on the condition that the resolution applicants submit bona fide proposals and do not delay the resolution in all earnestness.
NOIDA: The interim resolution professional (IRP) holding charge of Jaypee Infratech Limited (JIL) has decided to seek an extension of 30 days beyond the 45 days given by the Supreme Court to the National Company Law Tribunal (NCLT) to select a construction company that will complete 19,500 much-delayed flats at Jaypee’s Wish Town project. In an email, the IRP has sought permission of homebuyers before he files a petition in the Supreme Court.
Jaypee homebuyers ask Suraksha Realty to revise construction timeline in the bid
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Synopsis
An association of allottees of the Garden Isles in the Wishtown project of Jaypee Infratech Limited, which is one of the biggest with 30+ towers and more than 3200 flats, has said that execution period should not exceed 24 months on the outer limit.
(Representational image)
Homebuyers of the housing projects of bankrupt realty developer Jaypee Infratech’s in Noida and Greater Noida have asked the Suraksha Realty to revise the completion timing of the project in the revised bid.
State-run civil engineering enterprise
An association of allottees of the Garden Isles in the Wishtown project of
Noida: The government-backed construction company National Buildings Construction Corporation (NBCC) has sought from the Supreme Court four weeks more to assess whether it needs to submit a fresh and modified resolution plan to the National Company Law Tribunal (NCLT) for the construction of 17,000 flats in Wish Town.
The NBCC application, submitted with the apex court on April 3, also says that it may not submit a fresh resolution plan at the end of four weeks if it finds the circumstances “unviable”.
“It is submitted that the applicant is requesting for an extension of further four weeks’ time to assess the viability and feasibility of submitting a fresh/modified resolution plan for JIL. In case, submitting a plan in the circumstances stated above is found to be unviable, the applicant reserves its rights to not submit any further plans,” the application reads.