JSW Steel, Lodha eyeing Jaypee’s Noida projects

JSW Steel, Lodha eyeing Jaypee’s Noida projects
13/11/2017 , by , in News/Views

JSW Steel and Lodha Group are among the 20 entities that have evinced interest to invest ₹2,000 crore to complete the pending real estate projects of debt-laden Jaypee Group firm Jaypee Infratech.

According to sources, the Sajjan Jindal-led JSW Steel in association with Jaypee Group’s flagship Jaiprakash Associates has expressed interest in the project. Besides, sources said the Mumbai-based realty firm Lodha Developers has submitted an expression of interest (EoI) for completing the projects as per the insolvency resolution plan. The EoI invited by insolvency resolution professional (IRP) has received response from various entities, including corporates and asset reconstruction companies.

The National Company Law Tribunal (NCLT) has admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code. Moving ahead with the process, the NCLT-appointed IRP Anuj Jain had on October 27 issued a public notice seeking applications from entities with regard to Jaypee Infratech. The last date for submission of EoI was November 7.

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