IRP invites real estate companies to complete delayed projects of Jaypee Infratech
Anuj Jain, the Insolvency Resolution Professional (IRP) appointed by the National Company Law Tribunal (NCLT) in the Jaypee Infratech (JIL) case, has invited real estate companies with a net worth of over Rs 1,000 crore to complete the delayed projects of Jaypee Infratech, including Noida’s Wish Town project, by infusing Rs 2,000 crore or more. The IRP has invited expression of interests from companies interested in submitting a resolution plan by November 7.
“…Expression of Interest (EOI) are hearby invited from the parties interested in submitting a plan for resolution of JIL in accordance with the provisions of IBC (Insolvency and Bankruptcy Code),” Jain said in an advertisement published in newspapers.
Jain has also asked the real estate companies to make sure to protect the interest of home buyers by timely construction and possession of flats. The companies submitting their EOIs have been asked to submit their financial statements for the past three years, ownership details and proof of address along with their applications.