Promoter submits over Rs.100 bn plan for Jaypee Infratech

Jaypee group promoter Manoj Gaur has made a Rs 100 bn offer to pay off bank loans and complete housing projects as part of plans to bring Jaypee Infratech out of bankruptcy. The offer, which includes paying part of Rs 98 bn debt, giving lenders an equity stake in the company and completing unfinished housing projects, is over 25 per cent higher than the best bid made for Jaypee Infratech at the bankruptcy proceedings.<br /> <br /> Contact: Jaypee Group.<br /> <br /> Website: www.jalindia.com<br />