A successful resolution of JIL will provide a big relief to over 20,000 homebuyers across various housing projects launched by the realty developer in Noida and Greater Noida.
UP govt trying to resolve issues of stalled housing projects in Noida, Greater Noida: UP Infra minister
Builders like Amrapali, Jaypee Infratech and Unitech, have defaulted in delivering their projects in Noida and Greater Noida, with homebuyers' investments being stuck for about a decade now.
While the Suraksha-Lakshdeep consortium received 98.66% of votes, NBCC got 98.54%
Total income fell to Rs 247.44 crore in the fourth quarter of 2020-21, from Rs 384.99 crore in the corresponding period of the previous year.
Jaypee Infra insolvency: Creditors decide to consider Suraksha's bid along with NBCC's; may meet on Thursday
Interim Resolution Professional Anuj Jain is managing Jaypee Infratech Ltd (JIL) and running the bankruptcy proceedings.
The voting on the resolution plan was scheduled to begin on Monday, but it has now been deferred after NBCC requested the CoC to give it time to revise its resolution plan.
Asserting that the offer is compliant, NBCC in a letter to the IRP also said the company is fully aware of its responsibilities to be compliant with applicable law in its deeds and actions.
The agenda of the meeting was not disclosed, but sources said the financial creditors, which includes banks and home buyers, will continue their negotiations with the two resolution applicants.
On March 3 last year, the NCLT had approved NBCC's bid to acquire JIL through the insolvency process and complete over 20,000 pending flats over the next three and half years.
The buyers had asked the Supreme Court for protection as Jaypee Infratech is one of 12 companies being pursued by its lenders under the direction of India's central bank.
The Supreme Court today directed the embattled real estate firm Jaypee associates to deposit Rs 2000 crore by October 27 with its registry.
The Supreme Court will hear on September 11, the IDBI's plea seeking restoration of insolvency proceedings against the Jaypee Infratech.
The Supreme Court agreed to hear a plea seeking protection of interests of over 30,000 buyers who invested hard-earned money to book their dream homes.