Good News for Home Buyers Suraksha Group gets approval of lenders to buy Jaypee Infra achs– News18 Hindi

New Delhi. Lenders and home buyers have approved the acquisition of debt-ridden Jaypee Infra Ltd. to Mumbai-based Suraksha Group. The 10-day bidding process for Jaypee Infra ended on 23 June 2021. The security group got more than 98 percent of the votes. Anuj Jain, Interim Resolution Professional (IRP) of Jaypee Infra told that Suraksha Group has won the bid with 98.66 percent votes. He said that NBCC got 0.12 percent less votes than this.

Assured of delivery by completing fast construction
Suraksha Group had offered 2,552 acres of land to secured financial creditors with a fair value of Rs 6,456 crore. Suraksha Group will invest Rs 3,000 crore to complete Jaypee Infra’s under construction projects in 40 months. Regarding the decision of the Committee of Creditors (CoC), a spokesperson of Suraksha Group said that we thank all the stakeholders including the Central Government, Supreme Court, Banks, Financial Institutions and Homebuyers. We are committed to the homebuyers and assure them that the construction will be completed expeditiously and delivery will be given as per the resolution plan.

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Noida-Greater Noida home buyers will have a big advantage
The successful resolution process of Jaypee Infra will bring a big relief to more than 20,000 home buyers of housing projects launched by the company in Noida and Greater Noida. The committee of creditors had voting rights of 12 banks and over 20,000 home buyers. Homebuyers held 56.63 per cent of the voting rights and 43.25 per cent with financial creditors. Fixed deposit holders had 0.13 per cent voting rights.

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