Suraksha Group Finalises Acquisition of Jaypee Infratech
Real Estate

Suraksha Group Finalises Acquisition of Jaypee Infratech

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.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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.

Next Story
Infrastructure Urban

DRDO Transfers Key Defence Materials Tech to Industry

The Defence Metallurgical Research Laboratory (DMRL) of DRDO in Hyderabad has transferred three advanced indigenous materials technologies to leading Indian industry partners, marking a major step towards self-reliance in strategic defence manufacturing. The Licensing Agreement for Transfer of Technology (LAToT) documents were handed over by Dr Samir V Kamat, Secretary of Defence R&D and Chairman of DRDO, at a ceremony held at DMRL on 30 August 2025.The transferred technologies include:High-Strength Radomes: Transferred to BHEL, Jagdishpur, this technology enables the manufacture of high-p..

Next Story
Infrastructure Energy

Coal Ministry Honours Top Mines for Safety and Sustainability

The Ministry of Coal hosted the Star Rating Award Ceremony in Mumbai to recognise outstanding coal and lignite mines for their achievements in safety, environmental responsibility, scientific operations, and community welfare. Union Minister of Coal and Mines Shri G. Kishan Reddy, accompanied by Minister of State Shri Satish Chandra Dubey and Secretary Shri Vikram Dev Dutt, presented the accolades.The awards celebrate mines that have demonstrated excellence across key parameters such as safety, productivity, scientific mining, environmental stewardship, and socio-economic impact. The Minister ..

Next Story
Infrastructure Urban

Modi Highlights Decade of Bold Economic Reforms

Prime Minister Shri Narendra Modi reaffirmed the government’s steadfast commitment to economic reforms over the past decade, highlighting transformative measures that have redefined India’s fiscal structure and enhanced its global economic position.Citing major initiatives such as corporate tax cuts to encourage investment, the implementation of the Goods and Services Tax (GST) to unify the national market, and reforms in personal income tax to improve Ease of Living, Modi emphasised that the reform agenda has consistently been citizen-focused and pro-growth.He welcomed the ongoing #NextGe..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?