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Tweaked Jaypee bids filed, buyers seek 'CoC stamp' | Noida News

Noida: Wish Town buyers have demanded that the committee of creditors (CoC) in the Jaypee Infratech Limited (JIL) insolvency resolution should award a. ....

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Jaypee Infra Insolvency Case: NBCC, Suraksha asked to submit revised bids by Tuesday

Synopsis
The JIL went into the insolvency process in August 2017 after the NCLT admitted an application by an IDBI Bank-led consortium. In the first round of insolvency proceeding, the Rs 7,350-crore bid of Lakshadweep, part of Suraksha Group, was rejected by lenders.
On November 6, 2019, the Supreme Court directed the completion of Jaypee Infratech s insolvency process within 90 days and ordered that the revised resolution plan to be invited only from NBCC and Suraksha Realty.
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.
According to sources, a meeting of Committee of Creditors (CoC) is likely to be held on May 19 to discuss the bids submitted by both the parties under the Corporate Insolvency Resolution Process (CIRP). In the last meeting of the CoC held on Saturday, financial creditors, which includes representatives of lenders and homebuyers, d ....

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Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids by Tuesday

Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids by Tuesday
Jaypee Infra insolvency: NBCC, Suraksha 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.
According to sources, a meeting of Committee of Creditors (CoC) is likely to be held on May 19 to discuss the bids submitted by both the parties under the Corporate Insolvency Resolution Process (CIRP).
In the last meeting of the CoC held on Saturday, financial creditors, which includes representatives of lenders and homebuyers, discussed their bids and sought various clarifications. ....

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Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids

Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids
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Noida: Interim resolution professional to seek 30-day extension from SC for Wish Town proposals | Noida News

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. ....

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