Jaypee Infratech was admitted to insolvency in 2017, leaving more than 20,000 homebuyers across its Noida and Greater Noida projects in limbo. After multiple failed resolution attempts, Suraksha Group took over the company in 2024, promising time-bound delivery under a court-approved resolution plan.
Jaypee Infratech went into insolvency in August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an IDBI Bank-led consortium
The appointment has been made with effect from June 8, 2024, according to a recent regulatory filing.
Earlier this month, the Mumbai-based Suraksha Group took control of the Jaypee Infratech Ltd (JIL) by constituting a three-member board.
The appellate tribunal said if Suraksha Group and YIEDA will not settle their issues by the next date of hearing on April 18, 2024 then the plea will be heard on merit and a judgment passed