Latest news with #Klassic
Hindustan Times
25-04-2025
- Business
- Hindustan Times
Suraksha Group to infuse ₹5,500 cr in 3 years to deliver Jaypee projects in Noida
The Suraksha Group on April 24 said it will infuse ₹5,500 crore in the next three years to finish and deliver the stalled housing projects of Jaypee Infrastructure Limited according to the approved resolution plan. The Suraksha Group shared these details with the media 14 days after homebuyers staged a protest against the company. The buyers are also planning a protest against the company if they will not resume the work at the site alleging the work has not started at the site. However, the Suraksha group claimed otherwise, and said that they have deployed additional workers to deliver the project according to timelines. The disgruntled homebuyers, on March 10, 2025, staged a protest over the sluggish pace of construction despite the resolution plan being approved by NCLAT nearly 10 months ago. Suraksha Group, which took over JIL in March 2023 after a prolonged insolvency process, has now released the timeline for completion of the remaining towers, with possession deadlines stretching from June 2026 to December 2028. The projects include Pebble Court, Kosmos, Klassic, Kasa Isles, Kensington Boulevard, Kube, Wish Point, Orchards, Krescent Homes, and Garden Isles. The Mumbai-based company said despite initial hurdles in mobilisation and regulatory setbacks such as Grap (Graded Response Action Plan) restrictions, the company has reiterated its commitment to the court-mandated timelines. 'Despite loss of a few months due to delays in the installation of tower cranes and Grap orders, we are still on track to complete the projects within the stipulated timelines,' said Abhijit Gohil, CEO of Jaypee Infratech Ltd. 'We have awarded contracts for all the towers and most of the contractors are those who previously worked with Jaypee Associates, ensuring continuity and familiarity with the project's design and layout.' 'We have made substantial progress. So far, Occupancy Certificates (OC) for 22 towers have been received, and we have applied for OCs of 12 more towers. We aim to obtain OCs for 18 more towers by the first week of June and plan to file for 10 more within this calendar year,' said Executive director Jash Panchamia. However, the road to revival has been rocky. As per the resolution plan, construction was expected to resume within 90 days of the 'approval date'—marked by the NCLAT order dated May 24, 2024, which upheld NCLT's earlier verdict. But homebuyers allege that even 10 months after the approval, actual on-ground work remains negligible in many of the stalled towers. In their view, Suraksha's announcement came only after their protest drew attention to the delay. At the time of the takeover, construction was active in 62 towers involving over 6200 homebuyers, while 97 others remained stalled or had not commenced, impacting over 10,500 families. Some structures, launched as early as 2010-11 and initially promised by 2014-15, had been abandoned for nearly a decade. The company says it has ramped up labour deployment from just 555 workers in December 2024 to over 3,200 at present, and crane replacements, and rectification work are in full swing. A total of 1,149 registries have been done since mid-2024. Meanwhile, extensions for several towers are still awaited from UPRERA, with approvals expected by May 2025 for projects like Klassic A (Phase II), Kosmos B (Phase II), Kensington Park Apartments, Garden Isles, Kube, and Orchards. The NCLAT in May 2024 had also directed Suraksha to pay an additional ₹1,335 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) for farmers' compensation—significantly more than the earlier ₹10 lakh decided under the resolution plan. Panchamia said they have already released ₹70 crore to YEIDA in this regard. 'The claim made by the Suraksha management today felt like nothing more than an eyewash for the homebuyers. If the contracts were always intended to be awarded to the same contractors who previously worked under JAL, then what explains the prolonged delays? This either points to a failure in finding new contractors or issues with due diligence, especially since some contractors have been removed or have walked away. Despite Suraksha's claims that contracts have now been awarded and that work will progress as per the resolution plan timelines, there is still no construction schedule being shared with the homebuyers. This lack of transparency raises serious concerns as even the elected representatives of homebuyers are not aware of the same,' said Ashish Mohan Gupta president - JIL Real Estate Allottees Welfare Society. 'The Occupancy Certificates (OCs) for 22 towers were either applied for or obtained during the tenure of the Interim Monitoring Committee (IMC). Suraksha cannot take credit for this progress. In fact, OCs for three towers, applied in June 2024, are still pending. There is also no official report shared with homebuyers confirming that rectifications recommended in the structural audits have been implemented as per required safety norms,' said Gupta.
Miami Herald
18-04-2025
- Sport
- Miami Herald
Coral Reef dominant as it cruises to third consecutive GMAC softball championship
Losing a starting pitcher to injury can sometimes derail a team's season. Coral Reef's softball team didn't let that happen. Despite losing one of its two regular starters, junior Erin Zambrano, to injury last month, the Barracudas have endured and remained one of the top teams in South Florida thanks to their depth and a core of players who have stuck together for the past four years. On Thursday afternoon, Coral Reef showed why it is still one of the more dominant teams in the state by blanking longtime rival Miami Palmetto 15-0 in three innings in the GMAC championship game at South Dade High School. The Barracudas (17-5) won their third consecutive GMAC title and are looking to solidify their seeding in a tough Region 4-7A bracket when the district playoffs begin on April 28. Zambrano, who suffered a stress fracture in her cervical spine, could be back in time for either districts or regionals according to Coral Reef coach Zach Segal. But junior lefty Quinley Wylie, who split starts with Zambrano in the past, has thrived as the Barracudas' ace. 'We've had to play around with some stuff to save our pitcher's arm,' Segal said. 'But (Wylie) has been a bulldog. We went to the Kissimmee (Klassic) recently with the mindset that we wanted to at least win three of the five games we played. She was like 'No, I'm pitching all five.' And she did.' Wylie didn't have to pitch much on Thursday against Palmetto (8-12), going just three innings before the 15-mercy rule took effect. To rest Wylie's arm for the upcoming postseason run, senior infielder Avery Clegg pitched during Coral Reef's 14-0 win over Hialeah and 15-0 win over Hialeah-Miami Lakes in the quarterfinals and semifinals respectively. Clegg and Wylie have been huge at the plate as well for the Barracudas and led the team in hitting in Zambrano's absence. Junior Brianna Fields' three-run home run in the second highlighted the offensive barrage for Coral Reef. Freshman Aliyah Quinones belted a two-out triple in the first that ignited the Barracudas' offense. All nine Barracudas starters got a hit and scored a run. Coral Reef has leaned on the experience of players like Wylie and Fields, who have been on the team for the past four seasons. As of this week, the Barracudas stand to be the No. 2 seed in Region 4-7A behind Lake Worth Park Vista and just ahead of projected No. 3-seed and defending state champion Davie Western. The Barracudas finish the regular season with a game Saturday against Fort Myers Bishop Verot before playing as the top seed in District 16-7A. 'This whole group has been in and knows our culture and follows it,' Segal said. 'Pitching and defense have been our strong points. We hit the ball like we could, but we have to keep it going.'
