No Construction After Suraksha Group’s Takeover

23 Dec 2024 CW Team

Homebuyers of Jaypee Infratech Ltd (JIL) have approached the National Company Law Tribunal (NCLT), alleging lack of headway in construction of flats by Suraksha Group despite its resolution plan being approved in March 2023 and upheld by appellate tribunal this May.

In their petition, members of the Jaypee Infratech Real Estate Allottees Welfare Society (JREAWS) alleged that Suraksha - which took over JIL through insolvency proceedings - had failed to mobilise the promised Rs 30 billion required for construction, deploy workers, or even establish escrow accounts as stipulated in the resolution plan. According to the approved resolution plan - passed by NCLAT in May this year - Suraksha was supposed to resume construction of flats within 90 days. Additionally, the buyers alleged stripping of assets, increased charges, and lack of transparency regarding critical structural audits. Suraksha, they said, had even failed to develop a mobile application they had promised to keep homebuyers informed about the status of construction, outstanding dues, and timelines.

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..

ICCPL Eyes 7,000 Real Estate Campaigns

ICCPL Group has announced plans to cross 7,000 real estate marketing campaigns by FY 2026–27, strengthening its position as a specialised PR and communications partner for the sector.Over the past 15 years, the Noida-headquartered firm has worked with more than 500 real estate companies across India. It has also been associated with over 2,500 project launches across residential, commercial, retail, mixed-use and allied segments.The company has offices in Delhi, Gurugram, Bengaluru, Mumbai, Chandigarh and Goa, along with backend operations across more than 42 cities in India and a presence i..