NBCC, Suraksha submit fresh resolution plans for Jaypee Infra
By IANS |
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After 28 years, CBI court verdict awaited in Abhaya murder case. Image Source: IANS News
New Delhi, April 8 : State-run construction major NBCC Ltd, and Suraksha Realty have submitted fresh resolution plans for Jaypee Infratech.
The Committee of Creditors (CoC) are scheduled to meet on April 12 to discuss both the resolution plans. This is the fourth time that both the companies have submitted their bids for the bankrupt company.
The development comes after the Supreme Court on March 24 extended the timeline for the resolution of Jaypee Infratech Ltd (JIL) by another 45 days and directed the interim resolution professional to invite fresh bids from NBCC and Suraksha Realty.
State-owned NBCC and Mumbai-based Suraksha group have submitted revised bids to acquire debt-laden Jaypee Infratech through the insolvency process, as per the direction of the Supreme Court. Last month, the Supreme Court remitted to the Committee of Creditors (CoC) the issue of approval of resolution plan for Jaypee Infratech Ltd (JIL), saying no new expression of interest will be entertained for taking over the firm and only NBCC and Suraksha Realty may file revised proposals. The apex court also directed to extend the resolution process by 45 days.
NBCC and Suraksha group have submitted their resolution plans, Interim Resolution Professional (IRP) Anuj Jain told PTI.
The victims were travelling to Delhi when an over-speeding oil tanker jumped the divider and rammed into the victims vehicle The collision led to the spilling of oil from the tanker, resulting in a massive fire that engulfed both the vehicles.
Arun Veer Singh, chief executive (CEO) of Yamuna Expressway Industrial Development Authority (YEIDA), sent a letter to the police commissioner of Noida claiming the accident occurred due to alleged inaction on the IRP s part in adhering to road safety measures on the Expressway, built and operated by Jaypee Infratech. The CEO of YEIDA also registered a first information report (FIR) against Jaypee Infratech and the IRP.
Construction work on stuck Knight Court project of Jaypee Greens resumes
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Synopsis
Knight Court is among the five projects at Wish Town that are promoted, sold, and developed by JAL, not Jaypee Infratech Ltd, which is in insolvency resolution.
(Representational image)
Construction work at Jaypee Greens Knight Court has started as the Real Estate Regulatory Authority (RERA) of Uttar Pradesh authorised realty developer Jaypee Associates Ltd to complete the stalled Jaypee Greens Knight Court project in Noida in co-operation with Association of Allottees.
Knight Court is among the five projects at Wish Town that are promoted, sold, and developed by JAL, not