Jaypee Infratech:Update

1) There are media reports that JIL has been declared insolvent, creating wrong impression. This is not correct terminology used by not-so-knowledgeable guys.
Fact is that NCLT has admitted application of lenders for insolvency proceedings. Insolvency professional has been appointed to conduct proceedings. Now, various sides including lenders, promoter will be invited for their submissions. Co can be declared insolvent only if promoter not offering any solution. However JIL has 6175 acre land bank valued at 50000+crores. Like JP Associate, in case of JIL, promoter don't want to cheat, not asking for haircut. Promoter will offer part of land parcels to settle debt. And lenders will have no option but to accept this fair proposal. JIL will be 1st co to come out of NCLT. Nothing to worry
We reiterate TP 100 and TP(2) 200