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Vedanta submits expression of interest for Jaypee Infratech

14 Nov 2017 Evaluate

Vedanta has submitted a preliminary expression of interest (EoI) for Jaypee Infratech currently undergoing the Insolvency Resolution Proceedings (IRP). The EoI invited by insolvency resolution professional (IRP) has received response from various entities, including corporates and asset reconstruction companies.

The National Company Law Tribunal (NCLT) has admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code.

The last date for submission of EoI was November 7. Jaypee Infratech has defaulted on Rs 526.11 crore outstanding loan to IDBI.

Jaypee Infratech, which is into road construction and real estate business, has constructed the Yamuna Expressway, connecting Delhi and Agra. The company is developing more than 30,000 flats in Noida, most of which are incomplete.

Jaypee Infratech Share Price

1.27 0.00 (0.00%)
06-Mar-2023 18:02 View Price Chart
Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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