Jaypee Infratech’s Chief Financial Officer Resigns

Debt-ridden Jaypee Infratech Ltd. today said its Chief Financial Officer Ram Bahadur Singh has resigned from the company on health grounds.

In a filing to the BSE, Jaypee Infratech informed that Singh "who was director and chief financial officer of the company has resigned due to deteriorating health since last six months, from the directorship as well as from the post of chief financial officer from the close of working hours on Jan. 15, 2018".

Jaypee Infratech has been taken over by a NCLT-appointed Insolvency Resolution Professional for recovery of bad loans.

A few months ago, the NCLT had admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code.

Insolvency Resolution Professional Anuj Jain had on Oct. 27 issued a public notice seeking applications from entities with regard to resolution of of Jaypee. Several players have submitted expressions of interest.

Jaypee Infratech, which is into road construction and real estate business, has constructed the Yamuna Expressway, connecting Delhi and Agra.

Also Read: Supreme Court Refuses To Lift Stay On RERA Cases Against Jaypee Infratech

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.