Stock News and Filings Feed
New Delhi : A person who has to receive a payment from an insolvent company can now seek the claim under the insolvency law as the revised regulations have enabled owners of undelivered flats to get relief. Till now, only financial and operational creditors were permitted to seek claims under the Insolvency and Bankruptcy Code (IBC). The revised regulations come at a time when a large number of flat buyers have been left in the lurch, especially in the National Capital Region (NCR), due to long delay in deliveries amid the developers citing fund crunch.
A person who has to receive a payment from an insolvent company can now seek the claim under the insolvency law as the revised regulations have enabled owners of undelivered flats to get relief.
Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida home buyers and they can seek relief under the insolvency law.
The stock of Jaypee Infratech received a beating during Wednesday’s trade as it breached lower circuit at Rs 16.15 per share, down by Rs 16.15 or 4.72%.
New Delhi: Crisis-hit realty firm Amrapali group is making efforts to monetise its land bank and rope in co-developers to complete over 30,000 housing units in Noida and Greater Noida, the company’s MD Anil Sharma said.
Karan Choudhury & Dilasha Seth | New Delhi August 14, 2017 Last Updated at 22:47 IST
The government is exploring if it was legally tenable to sell other assets of debt-ridden Jaypee Infratech to raise money to complete pending housing projects of the company, a top finance ministry official said on Monday. Hundreds of home buyers had been left in lurch after the National Company Law Tribunal (NCLT) admitted bankers' plea for initiating insolvency proceedings against the realty company for defaulting on a Rs 526-crore loan.
The government is exploring if it was legally tenable to sell other assets of debt-ridden Jaypee Infratech to raise money to complete pending housing projects of the company, a top finance ministry official said today.
As hundreds of angry home buyers of Jaypee Wish Town staged a protest here, the Noida Authority today promised to protect the interests of the flat owners, saying a plan is being worked out in this regard. The home buyers gathered at the company office here, shouting slogans against the management and demanding refund of their investments since the National Company Law Tribunal has admitted the insolvency petition filed by IDBI Bank against the debt-ridden Jaypee Infratech.
The Noida Authority on Saturday assured thousands of home buyers of Jaypee Wish Town that their hard earned money will not be allowed to go down the drain as a plan is being worked out to safeguard their interests. The assurance came on a day when scores of angry home buyers of Jaypee Wish Town project protested at the company's office here demanding that their money is returned after the National Company Law Tribunal admitted the insolvency petition filed by IDBI Bank against the debt-ridden Jaypee Infratech.
Homebuyers are upping the ante against Jaypee Infratech after the NCLT said it had initiated insolvency proceedings against the company. Worried that they may not get their homes or their money back, thousands of homebuyers are seeking the status of secured creditors like banks as well as being made party to the insolvency proceedings. Homebuyers are concerned that in case there is no resolution after nine months, and the company goes into liquidation, the first right of sale proceeds may go to banks and homebuyers may end up with nothing, reports CNN-News18's Tanushree Pandey.
Jaypee Infratech promoter Manoj Gaur today came out to address thousands of angry buyers of the company's unfinished properties.
The much noisy banking sector this week saw some big announcements with RBI transferring only half of its dividend surplus to the government this year, allaying currency notes quality and security fears, government releasing the mid-year review with the Economic Survey and big banks such as State Bank of India and Bank of Baroda announcing their financial results.
The National Company Law Tribunal (NCLT) has admitted the plea of public lender IDBI Bank relating to a default of Rs 526 crore loan by Jaypee Infratech and appointed an interim resolution professional for it.
National Company Law Tribunal (NCLT) has admitted IDBI Bank's insolvency plea against Jaypee Infratech. In an interview to CNBC-TV18, Harish Vaid, Head of Corp Affairs & Legal at the company shared his views on the same.
Thousands of homebuyers who had bought apartments and plots in projects by Jaypee Infratech against which the National Company Law Tribunal has started insolvency proceedings are seeking the status of secured creditors like banks as well as being made party to the insolvency proceedings.
In a big setback to homebuyers of Jaypee group, the Allahabad bench of the National Company Law Tribunal on Wednesday declared Jaypee Infratech as an insolvent company. Homebuyers are unsure whether they will get their homes for which they have been waiting for years and have invested their life-long earnings.
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
The Allahabad bench of the National Company Law Tribunal on Wednesday accepted lender IDBI Bank’s plea and classified Jaypee Infratech as an insolvent company.
HDFC Bank’s senior official has cautioned on use of the Insolvency and Bankruptcy Code (IBC) as various banks rush in to file large corporate non-performing loan accounts to the insolvency courts.
Equity benchmarks ended near a two-week closing low on Tuesday, with the Sensex shedding 358 points intraday on profit booking post a SEBI order on shell companies and global weakness.
Banking sector in this week was all about interest rate movements with the country’s largest bank State Bank of India cutting deposit rates on savings accounts for the first time and with the Central Bank cutting key policy interest rates to lowest in over 6 years.
Alphageo India is a seismic survey service provider. It provides two-dimensional and three-dimensional seismic data acquisition, ...