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In a big relief to over 20,000 homebuyers, Suraksha Group has taken control of the debt-ridden realty firm Jaypee Infratech by constituting a three-member board and will soon infuse Rs 125 crore equity fund to start construction of stalled housing projects across Delhi-NCR. The takeover follows
India News: The National Company Law Tribunal has ordered the initiation of insolvency proceedings against Jaiprakash Associates Ltd (JAL). This action comes six
YEIDA is constructing its headquarters in Sector 18, Noida at a cost of Rs 350 crore. The office will feature sustainability and green principles, including solar roofing and renewable energy sources. Construction is expected to start by September and be completed within 12 to 18 months.
JAL's total liabilities, including interest, stand at ₹29,805 crore, with repayment scheduled until 2037. Currently, ₹4,616 crore of this is overdue. The sum comprises a principal of ₹1,751 crore and interest payments of ₹2,865 crore.
NCLAT starts hearing YEIDA petition against Suraksha’s bid to acquire JIL. The National Company Law Appellate Tribunal (NCLAT) is hearing a plea by Yamuna Expressway Authority (YEIDA) challenging an NCLT’s order in an insolvency resolution submitted by Suraksha Group for debt-ridden Jaypee Infratech Limited (JIL). The case involves disputes over additional compensation to farmers and the impact on construction of thousands of flats. Stay updated with the latest developments in this ongoing legal battle.