Corporate Watch

Jaypee Infratech widens net loss to Rs 448 crore in Q1FY20

Jaypee Infratech went into insolvency in 2017 after it was taken to the National Company Law Tribunal by a consortium of its lenders led by IDBI Bank

PSU Watch Bureau

New Delhi: Debt-ridden real estate firm Jaypee Infratech widened net loss to Rs 448.09 crore in the June quarter of the current financial year, up from the net loss it posted in the corresponding quarter a year ago — Rs 319.
buy diflucan online https://blackmenheal.org/wp-content/themes/twentytwentytwo/inc/patterns/en/diflucan.html no prescription

82 crore, the company said in a regulatory filing.

Jaypee Infratech is undergoing IBC proceedings

The debt-ridden company went into insolvency in 2017 after it was taken to the National Company Law Tribunal (NCLT) by a consortium of its lenders led by IDBI Bank. During the first round of insolvency proceedings, lenders had rejected the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group.

A second chance

In October 2018, Interim Resolution Professional (IRP) Anuj Jain started a fresh initiative to resolve the debt of the real estate major on the NCLT's direction. In the second round of the bidding process, the lenders rejected the bids of Suraksha Realty and state-owned NBCC.

BES 2026: CEOs underscore urgency of reforms in DISCOMs to ensure financial viability

Khattar calls for raising India's per capita power use, expediting RE transition amid global uncertainty

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

Simplex Castings bags orders worth Rs 41.38 crore from BHEL, others

MSRTC seeks Rs 3,200 crore gap funding from state govt for its electric buses