Tag: Suraksha Group

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Adani Group, Vedanta, others submit resolution plans to acquire Jaiprakash Associates

Representative Image NEW DELHI: Billionaire Gautam Adani’s Group, mining mogul Anil Agarwal’s Vedanta, and Dalmia Bharat Cement have submitted their resolution plans to acquire Jaiprakash Associates through an insolvency process, according to sources. Jaypee Infratech, which has been acquired by Mumbai-based Suraksha Group, has also submitted the bid, they added. Baba Ramdev-led Patanjali Ayurved, however, has not submitted the resolution plan after showing initial interest, sources said. In April, as many as 25 companies showed interest in acquiring Jaiprakash Associates Ltd (JAL). Earlier this month, lenders of JAL extended the deadline for submission of resolution plans to June 24 on…

Regulatory

No protest within a 100 meter radius of Jaypee Infratech’s main office: Noida court

NOIDA: A local court has ordered a 100-metre protest-free zone around Jaypee Infratech’s headquarters in Sector 128, prompting reactions from homebuyers who claimed they could no longer voice their grievances at the company’s doorstep. Civil judge Mayank Tripathi granted the interim relief to Jaypee Infratech Ltd (JIL) — now under Suraksha Group’s management — on Friday, noting that the defendants were served summons but failed to appear or submit objections. The ex-parte order drew sharp criticism from homebuyers, who accused the developer of misusing the legal process to suppress ‘legitimate concerns’ over their flats that have been stalled for more…