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Takeover issues resolved, work on stuck Jaypee projects set to resume soon

Suraksha Group is likely to take over JIL in the next couple of days because Yeida has decided not to challenge the order of the NCLAT court issued last week.

JIL’s day-to-day affairs are currently managed by the an implementation and monitoring committee (IMC) comprising officials of Suraksha, JIL, homebuyers and an interim resolution professional. (Sunil Ghosh/HT Photo)
Updated on Jun 01, 2024 05:26 AM IST
By, Noida

Jaypee takeover: NCLAT orders Suraksha to pay 1,335 cr as farmer compensation

The NCLAT on Friday said Suraksha Group can pay 79% of ₹1,689 crore -- which works out to ₹1334.31 crore -- in four years

The Yamuna Expressway Industrial Development Authority (Yeida) had approached National Company Law Appellate Tribunal ((NCLAT), challenging the National Company Law Tribunal (NCLT )order, and demanded <span class='webrupee'>₹</span>1,689 crore towards farmers’ land compensation. (Sunil Ghosh/HT Photo)
Updated on May 25, 2024 09:06 AM IST
By, Noida

Construction work to continue in ATS Knightsbridge project :NCLAT

NCLAT permitted construction to continue under the supervision of retired judge justice Sunil Gaur, utilising real estate regulatory authority (RERA) funds

NCLAT said the appeal filed by suspended director of the corporate debtor (ATS Group) submits that the ATS shall extend all assistance for carrying out the constructions. (Sunil Ghosh/HT Photo (representational image))
Updated on May 14, 2024 06:36 AM IST
By, Noida

NCLAT reserves order on Jaypee takeover, Yeida asks for additional 1,570 cr

In April, the Suraksha Group had offered to pay an additional compensation of ₹1,216 crore to farmers in five instalments over four years

The homebuyers said on Wednesday that the new development means that the litigation will drag on without a solution because the Suraksha Group was already reluctant to pay more to the farmers. Suraksha Group refused to comment on the development. (HT Archive)
Updated on May 09, 2024 12:01 PM IST
By, Noida

Appellate tribunal final orders on Jaypee takeover by Suraksha likely on May 2

The appellate tribunal in March 2024 had said that if Suraksha and Yeida will not settle their issues by the next date of hearing -- that is on April 18, 2024 -- then the plea will be heard on merit and a judgment passed

At least 20,000 homebuyers of Jaypee Wish Town projects in Noida and Greater Noida have been waiting nearly a decade for their homes. (HT Archive)
Updated on May 01, 2024 05:26 AM IST
By, Noida
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