NBCC is offering up to 1,903 acre, while Surakasha group has proposed over 2,600 acre to lenders.
The Supreme Court had reserved its judgment on October 8, 2020 over a batch of petitions and appeals filed in the matter.
The concerned transactions occurred during 2017-18 and 2018-19.
Noting that nearly all developers have faced numerous challenges since the outbreak of the COVID-19 pandemic, the company statement said that the demand for real estate...
Sequentially, the company witnessed widening of net loss from Rs 2,122.65 crore in the second quarter ended September 2020.
As per the report prepared by the transaction auditor, the concerned transactions occurred over a period of time, detailed in the report.
In March last year, state-owned NBCC got approval from the NCLT to acquire debt-laden Jaypee Infratech through an insolvency process and complete around 20,000 pending flats.
Last year, the Mumbai bench of the National Company Law Tribunal (NCLT) had admitted the company for insolvency resolution.
The debt of Rs 32,000 crore addressed represents nearly 57 per cent of the overall targeted recovery value of around […]
While granting the waiver, NCLT observed that individually, the petitioners are having less than 10 per cent of the shareholding […]