NBCC gets Rs 2,000 cr credit line from HUDCO for Jaypee acquisition

29 May 2021 CW Team

Housing and Urban Development Corporation ( HUDCO) has approved a Rs 2,000 crore credit line to NBCC for acquiring bankrupt Jaypee Infratech (JIL).

NBCC submitted its revised bid to HUDCO on 22 May, with approval from the Ministry of Housing and Urban Affairs (MoHUA). According to the letter received to HUDCO, NCBB requested an LoC for sponsoring Rs 2,000 crore as per its requirement in its revised plan, a source said.

HUDCO approved the NCBB request on Monday, May 24. It informed the PSU that the final approval will depend on submitting a detailed evaluation of its bid and getting it approved by the board of directors, HUDCO said.

According to a senior government official, the procedure is just formalities. HUDCO has already approved the loan. The proposal of NBCC is backed by the MoHUA. They should not have any issue once the revised bid is approved by the JIL's CoC.

On Wednesday, a letter by NBCC to JIL's interim resolution professional (IRP), Anuj Jain, reads that if the lender's panel decides to get the revised bid later this week, the company will submit it, after taking into consideration the observations made by Anuj.

NBCC and the consortium conducted by Suraksha Realty are the two determined applicants who are struggling for more than a year to get the money stated by the real estate builders that went to the Corporate Insolvency Resolution Process (CIRP) back in August 2017.

On Monday, JIL's CoC decided to vote on May 27-28 whether NBCC and Suraksha Realty should provide a week to submit their revised bids. Thursday was the first day of voting concerning this and ended on Friday.

Image Source

Also read: Jaypee Infratech acquisition: NBCC, Suraksha to submit revised bids

Also read: Jaypee Infratech acquisition: Suraksha objects to bid submission extension

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..