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

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..