JAYPEE
Listed realty firm Phoenix Mills Ltd appoints Parveen Mahtani as group legal head
An alumna of Government Law College (GLC), Mumbai, Mahtani began her career at the law firm Desai & Diwanji as an associate, then joined another firm, Nishith Desai Associates. In 2005, she moved to an in-house role and joined IL&FS Trust Company Ltd. as legal head for the debt recovery division.
F1's India comeback is gathering speed, but the road to the starting grid is far from clear
Formula 1’s return to Africa has revived hopes of an Indian Grand Prix comeback, with talks involving Formula One Management, the Adani Group and the government gaining momentum. The bigger challenge is not convincing F1 of India’s market potential but fixing the tax, customs and policy problems that drove the race out in 2013, while finding space on an already crowded calendar.
As momentum builds for F1's India return, Pranav Adani makes ''personal'' visit to Singapore GP
Pranav Adani visited the Singapore Grand Prix in a personal capacity, attracting attention for India's Formula 1 prospects. The Adani Group has acquired Jaypee Group's assets, including the Buddh International Circuit, which previously hosted races. Karan Adani has expressed interest in reviving Formula 1 in India, with government support evident in task force formation. Significant financial and logistical challenges must be addressed for the return of the sport to India.
Jaypee homebuyers’ complaints genuine, Suraksha Group breached resolution plan: Panel
An independent committee examining Jaypee Infratech homebuyers’ grievances has found most allegations of construction delays, poor quality, labour shortages and fund diversion to be genuine. The committee said Suraksha Group had failed to meet key resolution-plan obligations, including arranging Rs 3,000 crore in working capital, and urged urgent tribunal intervention.
Racing against time: How green corridors are becoming lifelines in Noida-NCR
A donor heart travelled nearly 20 kilometres from Hindon Airport to Fortis Hospital in Noida in 16 minutes after traffic police established a green corridor on September 9. The case is among several such arrangements coordinated across Noida, Ghaziabad, Delhi and neighbouring cities. Doctors said these corridors can reduce avoidable delays during organ transportation and other time-critical medical emergencies.
Jaypee Infratech to invests Rs 3,000 crore in next 2 yrs to complete stalled projects
Jaypee Infratech will invest Rs 3,000 crore over two years to complete stalled housing projects. All stuck homebuyers will receive their apartments by September 2028, company officials confirmed. Suraksha Group has already completed 84 towers and handed over 5,000 units. The company plans to develop three new townships totaling over 450 acres. This investment aims to resolve the long-standing issues for distressed homebuyers.
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Suraksha Group says Jaypee flats to be delivered by March 2028
Suraksha Group is set to complete twenty thousand homes from Jaypee Infratech by March twenty twenty-eight. Despite numerous towers built, many buyers have yet to occupy their properties. With an investment of five thousand five hundred crore rupees planned, Suraksha hopes to fund further construction via toll collection and unsold inventory sales. Their expansion includes launching three new townships alongside additional residential projects.
Jaypee 'fraud' case: ED files final report against ex-MD Manoj Gaur
The Enforcement Directorate has filed a chargesheet against former Jaypee Infratech MD Manoj Gaur in a Rs 14,599 crore fraud case involving homebuyers. Gaur, arrested in November, is accused of diverting funds collected for residential projects, leaving them incomplete. The investigation stems from multiple FIRs filed by homebuyers.
Jaypee 'fraud' case: ED attaches assets worth Rs 400 crore
The Enforcement Directorate has seized assets worth Rs 400 crore linked to a trust of former Jaypee Infratech MD Manoj Gaur and a company of Honeyy Katiyal. This action is part of a probe into a large-scale fraud and fund misappropriation from homebuyers of Jaypee projects in Noida. The agency alleges diverted funds were received by these entities.
Jaypee Infratech MD & CEO Aalok Champak Dave resigns
Jaypee Infratech Ltd's Managing Director and CEO, Aalok Champak Dave, resigned from his position, citing personal reasons. Dave had been instrumental in the acquisition of Jaypee Infratech by the Suraksha Group. Abhijit Gohil has been appointed as the new CEO for a three-year term, effective November 25, 2024.
Fortis, Apollo, Medanta, and Max lead the charge in bidding war for Jaypee Healthcare
Fortis Healthcare, Apollo Hospitals, Medanta, and Max Healthcare are among companies interested in acquiring Jaypee Healthcare, a subsidiary of Jaypee Infratech in Noida with a total debt of about Rs 1,000 crore.
SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities
Jaypee group, which is into construction, cement, power, real estate, hotel and hospital businesses, has been facing crisis in the last few years due to defaults in debt repayments and huge delays in completion of housing projects in Noida and Greater Noida.
Jaypee insolvency: Lenders to meet on April 26 and 30 to consider revised bids of NBCC, Suraksha
NBCC and Suraksha group, which are in the race to acquire the Jaypee Group firm, were asked by the lenders to sweeten their offers and both the potential buyers have submitted their revised offers under the Insolvency and Bankruptcy Code (IBC).
Jaypee Infra drops 5% as NBCC submits revised bid
A PTI report, quoting sources, on Wednesday suggested that state-owned NBCC submitted its revised bid to acquire Jaypee Infratech.
NBCC submits revised bid for Jaypee Infratech
NBCC and Suraksha group, which are in the race to acquire the Jaypee Group firm, were asked to sweeten their offers by the lenders.
NBCC, Kotak Investment among 4 shortlisted bidders for Jaypee Infra
Jaypee Infratech, a subsidiary of Jaypee Group’s flagship firm Jaiprakash Associates, is developing about 32,000 flats, of which it has delivered 9,500 units.
Jaypee group founder Jaiprakash Gaur joins JAL board
Debt-ridden JAL has sold bulk of its cement business to repay bank loans. Another group firm Jaypee Infratech has gone bankrupt.
Home buyers divided on promoter takeover bid for bankrupt Jaypee Infratech
The representatives of nine associations, claiming over 2,400 buyers members, said that Jaypee promoter should not be allowed to takeover Jaypee Infratech and rather a credible bidder should acquire the company.
Jaypee Infratech lenders reject Rs 7,350 crore bid by Lakshwadeep
A panel of over a dozen lenders, who have to recover nearly Rs 9,800 crore from Jaypee Infratech Ltd met here over the last two days to decide on the bid received from Lakshadweep.
IndusInd Bank invokes 6 crore pledged shares of Jaypee Infratech
Jaiprakash Associates had 89.5 cr shares, about 64.44% stake, in Jaypee Infratech as on December 31, 2017. Of the total shares held by it, 92.55% shares were pledged.
No wrongdoings, keen to deliver flats: Jaypee Group
Last week, the insolvency resolution professional appointed for Jaypee Infratech had moved NCLT alleging irregularities in the mortgage of an 858-acre land to secure bank loans of Jaypee Associates.
Fraud charge on Jaypee Infra in insolvency court
The move took place at a time when banks had started classifying Jaypee Infratech as a “non-performing asset” due to loan defaults.
Jaypee aims to complete 24K flats by 2020 at Rs 8,000 cr cost
The Jaypee group is investing about Rs 20-30 crore a month on construction and the fund is coming from toll collections.
Jaypee flat buyers seek investigation of assets; shares plunge up to 7%
A group of 400 flat buyers of Jaypee Group moved SC seeking protection under Consumer Law.
Insolvency covers 27 Jaypee projects: Insolvency Resolution Professional
The role of Jaypee Associates in the current crisis has come under the scanner. Although the current round of insolvency proceedings have been initiated against Jaypee Infratech by IDBI Bank.
Jaypee Infratech hits lower circuit as govt plans to sell assets to complete flats
Jaypee Infratech, a part of the debt-ridden Jaypee group, has defaulted on Rs 526.11 crore outstanding loan to IDBI.
Jaypee Infra Q1 net loss expands to Rs 45 crore
The company had posted a net loss of Rs 35.6 crore in the corresponding quarter of previous fiscal, Jaypee Infratech said in a BSE filing.
Supreme Court stays execution of 12% per annum penalty on Jaypee by NCDRC
SC did not stay two other parts of NCDRC judgment which said Jaypee cannot charge for car parking and for increase in super area post construction.
Jaypee Infratech OFS deferred due to stock price fall
Jaiprakash Associates today said it has deferred its decision to sell over 2.78 crore shares of the group firm, Jaypee Infratech, through auction route on Thursday due to unusual fall in the share price.
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