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Jaypee Infratech Ltd News

Jaypee Infratech appoints new CFO to delist shares as part of insolvency

Jaypee Infratech's shares on the BSE are currently suspended. The company, as of May 24, is under the management of Suraksha Group, following NCLAT approval

Jaypee Infratech appoints new CFO to delist shares as part of insolvency
Updated On : 13 Jun 2024 | 1:22 PM IST

Jaypee Infra insolvency: Suraksha to pay 1st tranche to YEIDA before Aug 24

Mumbai-based Suraksha Group, which has recently taken control of debt-ridden realty firm Jaypee Infratech through an insolvency process, will pay the first instalment of around Rs 133 crore to Yamuna Expressway Industrial Development Authority within three months as additional compensation to farmers. On May 24, the National Company Law Appellate Tribunal (NCLAT) upheld Suraksha Realty's bid to acquire Jaypee Infratech Ltd (JIL) while directing it to pay Rs 1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) as compensation to the farmers. While upholding the National Company Law Tribunal's (NCLT) decision of March 2023, the NCLAT had said the decision was made to avoid any further delay in the implementation of the resolution plan and also to take care of the interests of all stakeholders, including homebuyers and claim of YEIDA for additional compensation of the farmers. On March 7 last year, the NCLT approved the bid of Suraksha Group to buy JIL. However, ma

Jaypee Infra insolvency: Suraksha to pay 1st tranche to YEIDA before Aug 24
Updated On : 10 Jun 2024 | 3:53 PM IST

Suraksha Group finally takes over Jaypee Infratech via insolvency process

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 insolvency appellate tribunal NCLAT decision on May 24, upholding Suraksha Realty's bid to acquire Jaypee Infratech while directing it to pay an additional Rs 1,334 crore as farmers' compensation. According to a regulatory filing by Jaypee Infratech on Wednesday, Suraksha Group informed the IMC (Implementation and Monitoring Committee) that May 24, 2024, i.e., the date of the NCLAT order should be treated as the 'Approval Date' as defined in the approved resolution plan. The IMC in its meeting held on Tuesday approved the appointment of Sudhir V Valia, who is promoter of Suraksha Group, as a Non-Executive Director. It approved the appointment of Aalok Champak Dave as Executive Director and

Suraksha Group finally takes over Jaypee Infratech via insolvency process
Updated On : 05 Jun 2024 | 11:17 PM IST

NCLAT upholds NCLT order on Jaypee Infra, asks Suraksha to pay Rs 1,300 cr

Insolvency Appellate Tribunal NCLAT on Friday upheld Suraksha Realty's bid to acquire debt-ridden Jaypee Infratech Ltd but asked it to pay an additional around Rs 1,300 crore as farmers' compensation. Upholding the National Company Law Tribunal's (NCLT) decision of March 2023, the NCLAT said the decision was to avoid any further delay in the implementation of the resolution plan and to take care of the interests of all stakeholders, including home buyers and claim of Yamuna Express development authority YEIDA for additional compensation of the farmers. NCLT had on March 7, 2023, approved the bid of Mumbai-based Suraksha group to buy Jaypee Infratech Ltd (JIL), giving relief to more than 20,000 home buyers whose investments are stuck across various projects being developed in Delhi-NCR. "The impugned order passed by the adjudicating authority (NCLT) deals with the claim of the appellant (YEIDA) of Rs 1,689 crore of additional farmers compensation is set aside and the rest of the ord

NCLAT upholds NCLT order on Jaypee Infra, asks Suraksha to pay Rs 1,300 cr
Updated On : 24 May 2024 | 4:11 PM IST

UP govt still considering Jaypee infra resolution plan: Yeida tells NCLAT

Yeida had approved all five conditions of Suraksha Group's resolution plan to take over stuck realty projects of Jaypee Infratech

UP govt still considering Jaypee infra resolution plan: Yeida tells NCLAT
Updated On : 06 Mar 2024 | 7:48 PM IST

NCLAT declines to interfere with Jaypee Infratech resolution plan

The NCLT last year on March 7 approved Suraksha Realty's takeover of the debt-laden Jaypee Infratech dismissing three different appeals against the Rs 7,936 crore offer by the Mumbai-based company

NCLAT declines to interfere with Jaypee Infratech resolution plan
Updated On : 21 Feb 2024 | 11:50 PM IST

Jaypee Infratech insolvency: Panel seeks nod for Suraksha's resolution plan

In a regulatory filing Jaypee Infratech said there would be a delay in filing of its annual results for 2022-23 fiscal and the results for the first three quarters of the current financial year

Jaypee Infratech insolvency: Panel seeks nod for Suraksha's resolution plan
Updated On : 12 Feb 2024 | 8:53 PM IST