Jaypee Infratech ordered to deposit Rs 2,000 crore in court

14 Sep 2017 CW Team

A bench comprising of Chief Justice Dipak Misra along with judges DY Chandrachud and AM Khanwilkar has permitted an Interim Resolution Professional (IRF) to access Jaypee Infratech鈥檚 records, following which, the Supreme Court has taken a series of steps in the case to protect the interests of those affected. The IRP will be drafting a resolution plan with due consideration given to homebuyers and creditors within 45 days.

P Chidambaram had also reportedly put forth the point that homebuyers have paid substantially more than the banks, claiming total dues by homebuyers to be about Rs 15,000 crore. In light of this, a representative of the homebuyers will also be added to the committee of creditors.

Additionally, to ensure accountability on the promoters鈥� end, Jaypee Infra鈥檚 promoter Jaiprakash Associates has been ordered by the court to deposit Rs 2,000 crore by October 27, 2017.

Infrastructure Transport

20 May 2025

Ahmedabad鈥檚 Rs 1.17 Billion Flyover Opens

A major infrastructure milestone was achieved in Ahmedabad with the inauguration of a new Rs 1.17-billion flyover at Pallav Char Rasta on May 18.Union 亚博体育官网首页 and Cooperation Minister Amit Shah, who represents the Gandhinagar Lok Sabha constituency, unveiled the structure that was expected to ease vehicular congestion for nearly 1.5 lakh daily commuters navigating through the city鈥檚 busy Naranpura zone. The flyover, constructed across the 132-feet Ring Road, extended 935 metres in length and spanned 8.4 metres in width. It reached a height of 5.37 metres at the Pragatinagar junction and feature..

Infrastructure Transport

20 May 2025

CEC halts Balbharati-Paud Phata Road project in Pune; SC to review plan

In a notable development, the Supreme Court-appointed Central Empowered Committee (CEC) has instructed the Maharashtra government to immediately stop all construction activities related to the proposed Balbharati-Paud Phata Road (BBPP) project until the apex court completes its review of the matter.A letter dated May 16, signed by Siddhanta Das, chairman of the CEC, and addressed to the Maharashtra chief secretary, stated that no work should proceed in areas classified as 鈥渄eemed forest鈥� along the 2.1 km proposed road alignment. The committee cautioned that continuing construction in these..

Infrastructure Transport

20 May 2025

NHAI to Build 3.2 Km Bridge Over Ganga Connecting Buxar and Bharauli

The National Highways Authority of India (NHAI) has taken a significant step to enhance regional infrastructure by initiating preparations to construct a new bridge over the Ganga River. This bridge aims to strengthen the road connection between Bihar and Uttar Pradesh.The project, to be developed under NHAI鈥檚 supervision, is estimated to cost around Rs 368 crore. It will link Buxar in Bihar with Bharauli in Uttar Pradesh, facilitating smoother travel for thousands of daily commuters. Of the total 3.2 km length, 1.2 km will be built to the west of the existing Veer Kunwar Singh Bridge, while..