Jaypee Infratech defers approval of financial statements for March quarter

Jaypee Infratech has deferred the approval of its financial statements for Q4 and FY 2022-23 since accounts finalisation is not possible due to the pending National Company Law Appellate Tribunal appeals. The company has cited a justifiable extension of the statutory due date to give a correct account of the financial performance. The National Company Law Tribunal had approved the Suraksha Group’s resolution plan to take over Jaypee earlier in March, with an Implementation and Monitoring Committee formed to undertake requisite steps for expedient implementation.