JAL hikes one-time settlement to Rs 500 crore but lenders reject it
Jul 5, 2024Lenders rejected JAL's Rs 500 crore offer. NCLT's Allahabad bench initiated CIRP with Bhuvan Madan as IRP. JAL, having Rs 26,000 crore debt, proposed Rs 200 crore upfront on May 29. During June 10 hearing, Sunil Kumar Sharma mentioned using cement sale proceeds. The 2018 ICICI Bank petition led to insolvency case. Next NCLAT hearing on July 26.
YEIDA set to build flatted factories for medical devices, garments soon
Jul 5, 2024YEIDA will construct two flatted factories near the Yamuna Expressway in Sectors 28 and 29 for medical devices and apparel, with a cost of Rs 30 crore. Each factory has 240 units from 60sqm to 120sqm, offering startups operational opportunities. Facilities include an exhibition center, cafeteria, plug-and-play amenities. Construction is estimated to complete in two years.
Noida clears revised layouts for all Unitech projects in city
Jul 4, 2024Noida Authority's approval of Unitech projects post Supreme Court order allows construction to resume. YS Malik mentions finalizing contractors for the work, with projects in Sectors 96, 97, 98 having refunds requested by homebuyers. Sector 113's Unihomes 3 faces similar refund requests, while Sector 117's Exquisite project sees significant dues.
Govt starts taking possession of land for Noida airport Phase 2
Jul 4, 2024Noida Airport's terminal construction faces delays due to fabrication issues, with a new completion date set for April 2025. Increased vendors aim to accelerate the process, sourcing steel from Chhattisgarh. DS Mishra pushes for commercial services by December, requesting an action plan submission.
‘Irreparable damage’: Court stays Noida order to seize Gardenia land
Jul 3, 2024Noida court halts Noida Authority's Gardenia Group land seizure, citing irreparable damage risk. Legal response due by July 12, with potential auction of commercial property.
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