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Adani makes non-binding bid for Jaypee Infra; ready to infuse Rs 1,700 cr

Adani has promised to infuse another Rs 1,000 cr to settle claims of workmen, secured and unsecured financial creditors, besides meeting the cost for insolvency proceedings

Deposit money as directed, Tihar is not far, Supreme Court warns Jaypee
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Jaypee Infratech

Press Trust of India New Delhi
Business conglomerate Adani group has made an unsolicited and non-binding bid to acquire Jaypee Infratech and is ready to infuse up to Rs 1,700 crore to expedite the construction of stuck housing projects of the debt-laden realty firm and deliver flats to home buyers, sources said.

Adani has promised to infuse another Rs 1,000 crore in two equal tranches of Rs 500 crore each to settle claims of workmen as well as secured and unsecured financial creditors, besides meeting cost for insolvency proceedings.

It will also transfer 1,000 acre land to bankers to swap debt with assets.

Adani group had participated in the

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First Published: May 29 2019 | 5:36 PM IST

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