Noida: Residents of Jaypee Wish Town staged a protest on Saturday against the developer for raising an “insurance fee”, clubbing it with this year’s q.
Jaiprakash Power Ventures (JPVL) on Tuesday said its board has approved disinvestment of 74% stake in Jaypee Powergrid to Power Grid Corporation of India (PGCIL).Jaypee Powergrid (JPL) is a joint venture of PGCIL and JPVL. The transaction would not fall under related party transactions. The amount of consideration will be informed on execution of share purchase agreement and the transaction is expected to be completed by 31 March 2021.
On a consolidated basis, Jaiprakash Power Ventures reported a net loss of Rs 8.61 crore in Q3 December 2020 as compared to a net loss of Rs 1,816.05 crore in Q3 December 2019. Net sales surged 18.4% to Rs 987.92 crore Q3 FY21 over Q3 FY20.
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A year of some brisk move for one, staggered progress for the other. The year panned out differently for two sets of homebuyers who had both pinned their hopes on the National Company Law Tribunal (NCLT) for a resolution of their pending flats.
Amrapali, with more than 30,000 flats to deliver in its housing projects, appeared to have found a resolution with the intervention of the Supreme Court and the appointment of court receiver R Venkatramani. Following the court’s order, construction at its pending projects took off, though lack of liquidity led to some interim delays.
Funds were infused to grease the wheel and buyers, too, started paying up their pending instalments.