Suraksha Group Finalises Acquisition of Jaypee Infratech

11 Jun 2024 CW Team

Suraksha Group has completed the acquisition of Jaypee Infratech through an insolvency resolution process, as approved by the National Company Law Appellate Tribunal (NCLAT) on May 24. This acquisition marks the end of a prolonged insolvency case that began in August 2017, providing relief to over 20,000 homebuyers awaiting possession of their homes.

As part of the resolution plan, Suraksha Group will inject Rs 1.25 billion to expedite the completion of pending housing projects, particularly in the Delhi-NCR region. Additionally, the company is required to compensate farmers with an extra Rs 13.34 billion. The newly appointed board members include Sudhir V Valia as Non-Executive Director, Aalok Champak Dave as Managing Director and CEO, and Usha Anil Kadam as an independent director.

The CIRP was initiated by the IDBI Bank-led consortium due to Jaypee Infratech's inability to service its debt. After a series of competitive bidding rounds, Suraksha Group's resolution plan, which garnered 98.66% of the votes in 2021, was selected. This plan involves offering over 2,500 acres of land and Rs 13 billion in non-convertible debentures to bankers, along with a commitment to complete the construction of pending flats within the next four years.

The NCLAT's approval is expected to bring a significant boost to Suraksha Group's real estate portfolio and restore confidence among the affected homebuyers and stakeholders, concluding a major chapter in India's real estate and insolvency landscape.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..