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Published: Mar 31, 2022
Updated: Mar 31, 2022
The wait for the resolution of Jaypee Infratech has just got longer. The lenders had cleared acquisition by Mumbai’s Sudhir Valia-owned Suraksha group in June last year. But the matter is stuck in the courts since then. Incidentally, the bankruptcy and insolvency code of 2016 had proposed a tight deadline of 180 days to dispose of a case. But Jaypee is stuck in the process since May 2017 after defaulting on Rs 23,000 crore of debt.
Since May 2017, Jaypee has not paid a single penny back to banks, and the banks, it seems, are ‘waiting for Godot’ for their dues.
June 30, 2025 - Combined Issue
Industry Review
VOL XVI - 17
June 16-30, 2025
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