6% of total and 14% of closed cases find resolution under IBC so far

Less than six percent of the total cases filed under India’s four-year-old bankruptcy code have found resolution till the end of March 2020, the latest data from the Insolvency and Bankruptcy Board of India (IBBI) shows. A total of 3,774 cases or corporate insolvency resolution processes (CIRPs) have been filed since the Insolvency and Bankruptcy […]

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Adani Group Submits Non-Binding Bid For Jaypee Infratech

New Delhi : Business conglomerate Adani Group has made an unsolicited and non-binding bid to acquire Jaypee Infratech Ltd. and is ready to infuse up to Rs 1,700 crore to expedite the construction of stuck housing projects of the debt-laden realty firm and deliver flats to home buyers, sources said. Adani has promised to infuse […]

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Deposit substantial amount to prove bonafide: SC to Jaypee

The Supreme Court today refused to allow Jaypee Associates to deposit to Rs 400 crore with its registry as against Rs 2,000 crore directed by it, and asked the real estate firm to submit a substantial amount to prove its bonafide. The real estate firm which was asked on September 11 to deposit Rs 2,000 […]

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SC asks Jaypee Infratech to deposit Rs 2000 crore

The Supreme Court today directed the embattled real estate firm Jaypee associates to deposit Rs 2000 crore by October 27 with its registry and asked the NCLT- appointed interim resolution professional (IRP) to take over its management and work out a plan to protect the interests of homebuyers and creditors. The apex court, in effect, […]

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SC stays insolvency proceedings against Jaypee Infratech

The Supreme Court today stayed the insolvency proceedings against real estate firm Jaypee Infratech at the National Company Law Tribunal (NCLT) and sought the firm’s response on a plea seeking protection of the interests of hassled home buyers who have neither got homes, nor their money back. A bench headed by Chief Justice Dipak Misra […]

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