The Suraksha Group has infused a capital injection of Rs 125 crore into Jaypee Infratech Ltd, marking a significant step towards the revival of stalled projects in the Delhi NCR region. This move is part of the group’s resolution plan to settle outstanding dues to banks and expedite the completion of approximately 20,000 unfinished flats.

Following its acquisition of Jaypee Infratech Ltd through the insolvency process, the Suraksha Group, headquartered in Mumbai, swiftly initiated measures to rejuvenate the beleaguered real estate firm. This includes the infusion of equity funds and the establishment of a new management board.

Earlier this month, Suraksha Group assumed control of Jaypee Infratech Ltd by appointing a three-member board to oversee operations and steer the company towards financial stability and operational efficiency.

The acquisition by Suraksha Group follows a landmark decision by the National Company Law Appellate Tribunal (NCLAT) on May 24, which upheld the group’s bid to acquire Jaypee Infratech Ltd. As per the NCLAT directive, Suraksha Group is obligated to make an additional payment of Rs 1,334 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) to compensate farmers affected by the project.

The infusion of fresh capital by Suraksha Group signifies a renewed commitment to revive stalled projects and fulfill obligations to stakeholders, including homebuyers and financial institutions. With construction work set to resume, there is renewed hope for the timely completion of pending residential units, bringing relief to thousands of homebuyers who have been waiting for possession of their properties.

The Suraksha Group’s proactive approach and financial infusion are expected to inject much-needed momentum into Jaypee Infratech’s operations, paving the way for the successful resolution of outstanding issues and the realization of its full potential in the real estate market.