Jaypee Infra: Lenders face Rs 3,700-cr hit

NEW DELHI:Lenders to Jaypee Infratech will have to take a haircut of over Rs 3,700 crore while 20,000 homebuyers will not get paid any penalty for delay in construction of their homes in the takeover proposals brought by Mumbai-based Suraksha Realty and NBCC for the debt-laden firm.

Jaypee Infra: Lenders face  Rs 3,700-cr hit

New Delhi, December 6 

Lenders to Jaypee Infratech will have to take a haircut of over Rs 3,700 crore while 20,000 homebuyers will not get paid any penalty for delay in construction of their homes in the takeover proposals brought by Mumbai-based Suraksha Realty and NBCC for the debt-laden firm.

While bringing in very little cash, the two firms have offered land out of the landbank of Jaypee Infratech to settle some of the dues of the lenders. Sources said neither is offering any penalty to homebuyers whose houses have been delayed. — PTI

Top Stories

Shiromani Akali Dal breaks away from BJP-led NDA

Shiromani Akali Dal breaks away from BJP-led NDA

Decision taken at SAD core committee meeting

PM Modi promises to share Covid vaccine with rest of world

PM Modi promises to share Covid vaccine with rest of world

For how long will India be kept out of decision-making struc...

India, Sri Lanka set 11-point agenda to improve ties

India, Sri Lanka set 11-point agenda to improve ties

In response to PM Modi’s call on Sri Lankan govt to address ...

JP Nadda announces new team of BJP’s national office-bearers

JP Nadda announces new team of BJP’s national office-bearers

Elevation of Tarun Chugh and selection of former IPS Iqbal S...

Govt may need Rs 80,000 cr for COVID-19 vaccine in next 1 year: Adar Poonawalla

Govt may need Rs 80,000 cr for COVID-19 vaccine in next 1 year: Adar Poonawalla

Serum Institute is currently conducting a phase 3 clinical t...

Cities

View All