Jaypee Associates told the apex court that it has an offer worth Rs 2,500 crore and sought permission to give the project to another party.
Orient Cement has an aggregate manufacturing capacity of 8 MTPA with a clinker manufacturing capacity of close to 6 MTPA.
The special resolution was approved by the shareholders at the company's annual general meeting held on September 23.
The apex court had earlier directed Jaiprakash Associates Ltd to deposit Rs 4 crore with the bank to be kept as short- term fixed deposit and give possession of flats to the home buyers in its Kalypso Court project on the Noida-Greater Noida Expressway.
The move will bring about relief to 3,087 home owners after close to a year of being left in the lurch.
Jaypee Wish Town investors, on April 21, 2017, gathered at the Yamuna Expressway Industrial Development Authority (YEIDA) office in Noida, to protest against the builder over delays in the project completion and alleged diversion R
The country’s largest bank, State bank of India, and biggest private sector lender, ICICI Bank, are among the major lenders to Jaiprakash Associate
The arrangement between the two companies, announced on October 6 last year, was a combination of two assets of the Noida-headquartered company.
In the past one month, the stock price of little-known Andhra Cements ran up close to 70 percent, even beating its larger peers by a margin. The rally could most likely have been sparked by market buzz that the Jaypee Group-promoted cement player has been put on the block.
Sobha Ltd has been ranked number one in Track2Realty‘s Best Practices Report-2017, followed by Godrej Properties and the Prestige Group. This is the first of its kind in-depth report on best practices prevalent in R
When Housing News analysed the impact of demonetisation over the property prices, some of the critics disagreed and even took it as an endorsement of black money in real estate. Nevertheless, the theory that R
At a recent meeting, lenders approved Jaypee Infratech's plan to securitise Yamuna Expressway to Rs 2,000 crore to service its Rs 4,500-crore debt.
Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore
In a bid to service its Rs-75,000-crore debt, Jaypee Group is setting its sights on the sale of other business. The group has already divested its stake cement business to UltraTech.
Its income from operations for the quarter, however, went up to Rs 1,236.41 crore, over Rs 790.02 crore for the same period in the last fiscal, the company said in a regulatory filing.
"JP Associates has withdrawn its proposal of semiconductor plant. They have said that it is not commercially viable to set up this plant at present," DeitY (Department of Electronics and IT) Secretary Aruna Sharma told reporters on sidelines of a Qualcomm event.
With this deal, Jaypee's exposure to Axis Bank, which stood at around Rs 1500 crore, has been reduced to half.
A third of the country's 500 largest listed non-financial companies failed to earn enough to make interest payments in the financial year that ended March 2015, according to a new report from local ratings agency India Ratings and Research.
The real-estate-to-road group, best-known as the builder of India's Formula One racing track, had debts of around 670 billion rupees (USD 10 billion) as of February. It has been identified by banks as one of India's most leveraged companies with worsening financial performance.
Speculated to be the largest cement deal in the country, this demerger will cut Jaypee‘s debt by approximately Rs 20000 crore. The enire 22 million tonne capacity business is likely to be separated into a special purpose entity (SPE).
Investors pressed the panic sell button on Unitech and Jaiprakash Associates on Wednesday after rumours indicated that both companies have defaulted on repayments of debt to lenders. Realty company Unitech crashed as much as 51 percent intraday and Jaiprakash Associates plunged 32 percent.
The Aditya Birla Group firm had reported a net profit of 864.83 crore in the January-March period of 2013-14 fiscal, Ultratech said in a regulatory filing. The country's largest cement maker reported a growth of 4.47 percent in its turnover during the quarter at Rs 6,597.49 crore
According to Sachin Shah, Fund Manager at Emkay Investment Managers the undertone for market continues to be buoyant. He thinks Larsen and Toubro would be a good long-term bet.
"The equity invested by the consortium in the acquisition of the two hydroelectric plants will amount to approximately Rs 3,820 crore (USD 616 million, based on March 1, 2014 foreign exchange rate), of which 51 percent is from TAQA.
Jaypee Group now under the radar of the trade fair regulator, the competition commission of India or CCI for alleged abuse of dominant position in selling apartments in Noida,