NBCC

In the webinar, NBCC expressed confidence that it will get approval from Yamuna Expressway Industrial Development Authority (YEIDA) to hive off Yamuna Expressway to a Special Purpose Vehicle (SPV) and the transfer of 90 percent stake to bankers.

New Delhi: NBCC, which competes nationwide, in a race to acquire Jaypee Infratech Ltd (JIL), on Sunday assured real estate agents that their application is stable, with the full support of the PSU government which will result in 20000 dwellings houses during renovation.

A day before the election, NBCC and Suraksha demonstrators launched a website on Sunday with hundreds of family members outlining their plans to address the problem and concerns of homeowners.

At the webinar, NBCC expressed confidence that it would get approval from the Yamuna Expressway Business Development Agency (YEIDA) to move the Yamuna Expressway to Special Purpose Vehicle (SPV) and export 90 percent.

NBCC CMD P K Gupta said the company has improved procedures against its application in 2019, by setting a 100 -hectare minimum penalty.

Gupta said there was no question that failure in the case, he said, was supported by the government.

“Our plan is very strong and everything is clear. We are not hiding anything. We have been trying to fix the plan since the beginning,” Gupta said. “We get support from the government and we are accountable to the government,” he said.

NBCC CMD said it provides tower usage data.

Gupta noted the importance of NBCC’s participation in the Delhi-NCR market:

He said homeowners have no other responsibility in their plans. “If we can’t sell the land, we can carry out their plans.”

NBCC General Director (Project) Yogesh Sharma said the NBCC wrote to JIL, with “full government support.” He said 70 percent of the remaining rooms will be completed in the next two and a half years

Sharma expressed his confidence that the banks will support their bid as they did in 2019. He also said that the company is giving eight hundred and seven hundred thousand dollars to the banks compared to seven hundred and ninety -two million.

“Jaypee infra will help. There is no doubt that NBCC does not include tools,” he said in response to a question on whether NBCC wants to earn enough money.

Regarding concerns raised by homebuyers that the NBCC’s request was not heard due to the lack of approval from YESIDA to remove the Expressway from banks, Sharma said: “We are 2000 percent confident that YEIDA will be accepted.

“I don’t know why everyone is worried,” he said, adding that the company will seek approval from YeIDA once it wins the application process.

NBCC Chief Executive Officer (Finance) V K Choudhary also raised numerous complaints from consumers across the country, urging them to vote on his request.

In its latest report, NBCC went to banks 1,903 acres and 90 percent on the Yamuna Expressway but would borrow two hundred thousand dollars against the project.

On the other hand, Suraksha provided the banks with 2,500 hectares of land and close to 1,300 crores by providing fixed loans.

Last week, the Credit Committee (CoC) considered selecting forms from the NBCC and the Suraksha team to obtain the JIL through Commercial Security Agency (CIRP) under the Bankruptcy and Bankruptcy Act (IBC).

The ICC has representatives from 16 banks and represents more than 20,000 housing representatives. More than 52% of voters own CC properties. Voting takes place from Monday to June 23.

This is the fourth JIL ripping of the production cycle. JIL began competing in August 2017 when the National Criminal Court (NCLT) granted an application for a memorandum of understanding led by IDBI Bank.

In the first major event, the organizers donated seven hundred and three hundred and thirty million dollars from Lakshadweep, belonging to the Suraksha Group. The match rejected Suraksha Realty’s registration with the NBCC in the second round, held in May-June 2019.

The case went to the National Court of Appeal (NCLAT) and then to the Supreme Court.

In January 2019, the Supreme Court ordered the JIL to suspend the main case within 90 days and ordered that only the NBCC and Suraksha change the offer.

Later, in December 2019, CoR approved the NBCC step with 97.36% of votes in a third-party purchasing system.

In March 2020, the NBCC will receive a certificate from NCLT for receiving JIL. However, the move was opposed by NCLAT and later by the Supreme Court, which ordered on March 24 this year to invite recruits to NBCC and Suraksha only.

The Supreme Court ordered the project to be completed within 50 days, ending May 8, and asked JIL to set a date for the purchase of the customer.

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