Gaur's current plan envisages zero haircut for lenders. Any implied haircut by a creditor would be made good in five years of accepting the plan.
The buyers, numbering anywhere between 5,000 and 10,000 have been camping outside the company's Sector 128 Noida office since this morning. Most of the buyers want refund of their money.
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During the run-up, over the last few months several developers have been advertising their projects as RERA-compliant or ensuring that the new agreements being entered into between builders and buyers incorporates norms laid down by the Act
UltraTech yesterday agreed to increase enterprise value by Rs 289 crore for the deal. Earlier these companies had fixed an enterprise value at Rs 15,900 crore and agreed to exclude the 1.2 mtpa capacity in Karnataka.
Care Ratings cut JP Associates' debt rating to "D" from "BB" earlier, citing a delay in debt servicing on account of weak liquidity.
"This is a welcome step taken by the Union Government. This decision will work as a milestone in Indian housing sector. Every stakeholder of the industry would get benefited by this step," Industry body CREDAI NCR President Manoj Gaur said in a statement.
Manoj Gaur, executive chairman, JP Associates says the company is taking a slew of measures to reduce debt meaningfully. It plans to announce two more deals on divestment in four weeks and is looking to sell two cement units and two hydro plants under phase 1. Phase 1 will also include the sale of some land bank under JP Infratech.
Despite adversities, the company still managed to report a year-on-year growth in cement, Manoj Gaur of Jaiprakash Associates said. Yet, the outlook for the sector as a whoel remains challenging because of the oversupply situation he said.
We are on course to reduce our debt at corporate level, at group level by Rs 14,000 -15,000 crore, says Manoj Gaur, Executive Chairman, Jaiprakash Associates
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,
Experts feel the Jaypee-UltraTech could be a one-off rather than the onset of a trend. There are many plants up for sale, but few buyers.
Jaiprakash Associates plans to reduce its debt by Rs 15,000 crore. Along with its subsidiaries, the group has a total debt of Rs 55,000-56,000 crore.
The year gone by was challenging year for the company, said Manoj Gaur, executive chairman, JP Associates. The firm has invested around Rs 39000 crore in various business including real estate, hospitality, cement and construction.
Manoj Gaur, Executive Chairman of Jaiprakash Associates said they undertook a call to pare its debt on a consolidated level by selling stake in one of its plants. However, they have still not considered a sale of its Andhra unit to Ultratech, informed Gaur.
Jaypee Group Chairman Manoj Gaur, his wife Urvashi Gaur and brother Sameer Gaur are not guilty but the company‘s two Whole Time Directors and Company Secretary are.
The Securities Appellate Tribunal (SAT) today set aside the penalties imposed by market regulator Sebi on infrastructure major Jaiprakash Associates' Chairman Manoj Gaur and his two family members in a case of alleged insider trading in the company's shares.
High profile accused, phone records and integrated surveillance to establish insider trading charges- it sounds a bit like the Raj Rajaratnam case; doesn't it? Except, it's not.
It is unfortunate that certain inferences have been drawn on presumptions, chairman Manoj Gaur says.
The Securities and Exchange Board of India (SEBI), India's capital markets regulator, fined top executives of Jaiprakash Associates , an engineering and construction firm, for insider trading in the company's stock in 2008.
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.
In a infrastructure panel discussion on building future proof power plants with CNBC-TV18’s Siddharth Zarabi, eminent panelists discuss the very crucial issue for the Indian economy.
Manoj Gaur, executive chairman of Jaiprakash Associates is surprised at the recent underperformance of this company in the secondary markets.
Manoj Gaur, JP Group says, “JP Group today is already owning and operating 700 mega watts (MW) of hydro. By March 2012, Jaiprakash Power Ventures would be operating and owning about 2,200 MW."
Jaiprakash Associates is planning to raise Rs 3,500 crore (USD 769 million) for Jaiprakash Power through a follow-on share sale or global depository receipts, Executive Chairman Manoj Gaur said on Monday.