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Jaypee Infratech undergoing insolvency but 'in good health': Manoj Gaur

Jaypee Infratech went into insolvency in August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an IDBI Bank-led consortium

Jaypee Infratech
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Jaypee Infratech

Press Trust of India Noida (UP)
Embattled Jaypee Group chairman Manoj Gaur on Thursday said realty arm Jaypee Infratech is undergoing insolvency but "is in good health" and has posted a growth in revenue in 2018-19.

Company officials said the company has more assets than liabilities and hoped it will get the project to deliver nearly 20,000 flats, which have got delayed by several years leaving thousands of homebuyers in lurch.

Jaypee Infratech went into insolvency in August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an IDBI Bank-led consortium.

The group had to deliver 32,691 units to buyers under various housing projects in

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First Published: Sep 26 2019 | 9:49 PM IST

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