What a dream run it has been for the Indian equity market in 2017 - and who would have thought. If we rewind back and talk about all the gloom and doom that were surrounding us back in December of 2016; demonetisation and impending huge indirect tax reform. Well, the Indian market has come a long way and come on top.
In a complete U-turn on JP Infra case in a latest meeting between a group of home buyers, JP Infratech MD, Manoj Gaur, Insolvency Professional Anoop Jain and Corporate Affairs Ministry, it has been decided that the stuck buyers of JP Infra projects do not have to fill out any form to claim their recoverables from the company. Manisha Natrajan of CNBC-TV18 explains if this is good news for buyers, or are their implications that buyers need to be aware of. In an interview to CNBC-TV18, Real Estate Lawyer Yudhist Narain Singh discussed this further.
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.
The RBI has sent bankers the list of 12 stressed accounts that they must resolve through the Insolvency and Bankruptcy Code (IBC).
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.
Sharing his views on Vijay Mallya's debt repayment plan, Siddharth Purohit, Senior Research Analyst, said that the question will shift to how the deal is structured and the source of payment.
The development comes as a huge relief for home buyers , who will now be able to get occupancy certificates of their apartment that had been held up for long due to an order passed by the National Green Tribunal (NGT).
Ashish Puravankara, joint MD, Puravankara denied plans of purchasing land in NCR, but added: "As a regular course of our business we evaluate various joint development opportunities from time to time in various regions where we have our offices for example NCR or Mumbai for that matter."
Jaypee Infratech, which has been reeling under huge debts, is aiming to raise its revenue to Rs 4, 000 crore in 2013-14 on the back of two three projects that company plans to launch in the next fiscal
Jaiprakash Associates which has been deliberating sale of its Gujarat cement business for more than five month to pare its debts may soon announce a positive outcome.
Parag Parikh ED & CFO, Gammon Infrastructure Projects, says that the company has posted cash profit of Rs 122 crore for nine months in FY13.
Prasad Baji of Edelweiss Securities said there is no official announcement on the deal and there is likely to be a number of twists and turns in the deal. According to him, Ultratech will be keen about the acquisition and since Jaypee is looking at exiting its cement business, the deal maybe struck soon.
Manoj Gaur, executive chairman of Jaiprakash Associates spoke to CNBC-TV18 about the business environment and the way ahead for the company.
The infrastructure space has been suffering a lot over the last month or so. Manoj Gaur, executive chairman of Jaiprakash Associates told CNBC-TV18 that JP group has performed very well despite the difficulty faced by infrastructure space. Gaur expects the company to bring down their debt to Rs 15,000-16,000 crore by the end of FY12.