The matter is "further scheduled for order(s)/appropriate directions before Hon'ble National Company Law Tribunal, Principal Bench, New Delhi on 7th March 2023," Jaypee Infratech Ltd. stated in a regulatory filing.
In NEW DELHI: On Tuesday, the National Company Law Tribunal (NCLT) is expected to rule on the Suraksha group's attempt to buy Jaypee Infratech Ltd through the insolvency procedure. Suraksha group is situated in Mumbai. The Suraksha group's effort to acquire Jaypee Infratech Ltd. and complete almost 20,000 units for displeased homebuyers received a reserved order from the NCLT in late November of last year.
The matter is "further scheduled for order(s)/appropriate directions before Hon'ble National Company Law Tribunal, Principal Bench, New Delhi on 7th March 2023," Jaypee Infratech Ltd. stated in a regulatory filing. The Suraksha group gained consent from financial creditors and homeowners to acquire Jaypee Infratech Ltd in June 2021, giving 20,000 purchasers hope that they may eventually be able to move into their dream apartments in abandoned projects, mostly in Noida and Greater Noida.
Note: Jaypee insolvency: NCLT may pass judgement on Suraksha bid on March 7