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Suraksha Realty offers land to Jaypee Infratech lenders

Suraksha Realty offers land to Jaypee Infratech lenders

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  25 Nov 2019 4:50 AM GMT

New Delhi: Mumbai-based Suraksha Realty has offered land parcels worth Rs 7,857 crore to the financial creditors of the insolvent Jaypee Infratech along with an upfront infusion of Rs 25 crore.

The total repayment to the lenders offered by Suraksha is Rs 7,882 crore, against the Rs 9,782.60 crore claim of the lenders admitted into the insolvency proceeding.

The other contender NBCC (India), in its resolution plan has offered to pay the full amount of Rs 9,782.60 crore through transfer of land bank worth Rs 5,001 crore, transfer of the Yamuna Expressway and half of the profits generated from the sale of unclaimed real estate units among others.

Suraksha, in its resolution plan has assured an upfront payment of Rs 25 crore within 90 days of approval through infusion of funds by way of equity. (IANS)

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