New Delhi: Lenders to Jaypee Infratech the Jaypee Group firm whose cash crunch is holding up completion of nearly 32,000 flats in Noida are in disagreement with the way the company’s lead bank IDBI and its chairman Manoj Gaur have handled “certain affairs”.
Several bankers to the company TOI spoke to pointed out that IDBI Bank and Gaur had blocked a number of investor proposals in the past 15 months. One such proposal involved roping in investors to leverage the toll collection of Yamuna Expressway from Greater Noida to Agra. This would have helped raise around Rs 2,300 crore from IDFC Alternatives to fund, among other things, the construction of incomplete houses as the company was neck-deep in debt and unable to meet its …
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