Uttar Pradesh Yet to Approve Suraksha's Jaypee Plan

06 Aug 2024 CW Team

Jaypee Infratech, a key player in the real estate sector, has been undergoing insolvency proceedings since August 2017. The company's downfall left numerous housing projects incomplete, affecting over 20,000 homebuyers. The National Company Law Tribunal (NCLT) had approved Suraksha Group's bid earlier this year, offering a ray of hope to the affected homebuyers and financial creditors.

Suraksha's resolution plan includes the completion of pending housing projects and the settlement of dues to creditors. However, the plan is contingent upon the approval from the state government, which is a critical step in the resolution process. The delay in approval has raised concerns among stakeholders who are eagerly awaiting the resumption of construction activities and the delivery of homes.

The resolution plan proposes a structured approach to reviving Jaypee Infratech, focusing on timely delivery and adherence to regulatory compliances. Suraksha Group has assured homebuyers and creditors of their commitment to completing the projects within the stipulated timelines, provided they receive the necessary approvals without further delays.

The Uttar Pradesh government's decision is crucial as it will set the course for the revival of Jaypee Infratech and the resumption of construction on the long-stalled projects. The authorities are expected to thoroughly review the resolution plan to ensure it aligns with the regulatory framework and safeguards the interests of all stakeholders.

In the meantime, the prolonged wait for approval has added to the anxiety of homebuyers who have already faced significant delays and financial stress. The timely intervention and decision by the state government are imperative to restore confidence and expedite the resolution process.

As the resolution plan awaits the green light, the focus remains on the Uttar Pradesh government's decision, which holds the key to unlocking the potential revival of Jaypee Infratech and bringing relief to thousands of homebuyers and creditors.

The Uttar Pradesh government has yet to approve Suraksha Group's resolution plan for Jaypee Infratech, a delay that continues to keep the fate of thousands of homebuyers in limbo. Suraksha Group, which emerged as the successful bidder for the debt-laden Jaypee Infratech, is waiting for the final nod to proceed with its plans to revive the stalled projects. Jaypee Infratech, a key player in the real estate sector, has been undergoing insolvency proceedings since August 2017. The company's downfall left numerous housing projects incomplete, affecting over 20,000 homebuyers. The National Company Law Tribunal (NCLT) had approved Suraksha Group's bid earlier this year, offering a ray of hope to the affected homebuyers and financial creditors. Suraksha's resolution plan includes the completion of pending housing projects and the settlement of dues to creditors. However, the plan is contingent upon the approval from the state government, which is a critical step in the resolution process. The delay in approval has raised concerns among stakeholders who are eagerly awaiting the resumption of construction activities and the delivery of homes. The resolution plan proposes a structured approach to reviving Jaypee Infratech, focusing on timely delivery and adherence to regulatory compliances. Suraksha Group has assured homebuyers and creditors of their commitment to completing the projects within the stipulated timelines, provided they receive the necessary approvals without further delays. The Uttar Pradesh government's decision is crucial as it will set the course for the revival of Jaypee Infratech and the resumption of construction on the long-stalled projects. The authorities are expected to thoroughly review the resolution plan to ensure it aligns with the regulatory framework and safeguards the interests of all stakeholders. In the meantime, the prolonged wait for approval has added to the anxiety of homebuyers who have already faced significant delays and financial stress. The timely intervention and decision by the state government are imperative to restore confidence and expedite the resolution process. As the resolution plan awaits the green light, the focus remains on the Uttar Pradesh government's decision, which holds the key to unlocking the potential revival of Jaypee Infratech and bringing relief to thousands of homebuyers and creditors.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

Infrastructure Energy

12 Dec 2025

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

Infrastructure Energy

12 Dec 2025

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..