The board of directors has accepted the resignation tendered by Gaur citing personal reasons, said Jaiprakash Associates in a regulatory update
The Jaypee group has already sold many cement and power plants to reduce its debt
The NCLT Delhi bench on Tuesday approved the bid of state-owned NBCC to acquire debt-laden JIL through an insolvency process and complete around 20,000 pending flats over the next three and half years
Its net loss stood at Rs 400.72 crore in the year-ago period
JSW Infra will also provide technical expertise in building and operating infrastructure assets
Jaypee Infratech owed nearly Rs 10,000 crore to bankers
Jaypee group firm Jaypee Infratech went into insolvency in 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium seeking resolution of the firm
The company is in the process of filing an appeal against the order
Under the Competition Act, complaints filed under a certain section cannot be withdrawn
Jaiprakash Associates was ordered to return 858 acres to Jaypee Infratech
The Board has also approved re-appointment of Sunil Kumar Sharma as Executive Vice-Chairman for 3 years with effect from March 18, 2019
Total income also declined to Rs 17 bn during April-June period of 2018-19 fiscal from Rs 26.02 billion in the corresponding period of the previous year
Prior to this, it had directed JAL to deposit 10 billion, in addition to Rs 7.5 billion already deposited
JP Associates has said it has been able to "tie up appropriate financial arrangement
The firm also sought to consider its revival proposal, saying it has been completing 500 houses per month
The stock has moved higher by 15% to Rs 22, extending its Thursday's over 15% surge on the NSE, after Rare Enterprises has purchased 30 million shares from open market.
Jaypee Associates has to deposit the Rs 1.25 billion by January 25
JAL, which deposited Rs 425 crore with the apex court registry so far, had to deposit Rs 125 crore by December 31 and wanted a two-month extension
Firm deposits Rs 275 cr with apex court, asked to deposit another Rs 150 crore on December 14 and and Rs 125 crore on December 31
There would be no change in the shareholding pattern of the transferor company