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  • February 2022 (Revised December 2022)
  • Case
  • HBS Case Collection

Jaypee Infratech and the Indian Bankruptcy Code

By: Kristin Mugford, William Vrattos and Radhika Kak
  • Format:Print
  • | Language:English
  • | Pages:35
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Abstract

In 2016, India passed a new bankruptcy law (IBC) to counter a brewing bank crisis and increased corporate distress. Homebuilder Jaypee Infratech, one of India largest distressed companies (the “dirty dozen”) began restructuring under the IBC in 2017. Two years later, the situation remains unresolved, the Supreme Court is involved, there are two interested bidders for the company, and a creditor group that includes Indian banks and local homebuyers. Should York Capital bid to purchase some of Jaypee’s secured debt and at what price?

Keywords

Restructuring; Decisions; Judgments; Voting; Developing Countries and Economies; Financial Crisis; Public Sector; Asset Pricing; Borrowing and Debt; Corporate Finance; Credit; Insolvency and Bankruptcy; Debt Securities; Bonds; Investment Return; Price; Government Legislation; Laws and Statutes; Bids and Bidding; Business and Stakeholder Relations; Risk and Uncertainty; Valuation; Real Estate Industry; India; Delhi

Citation

Mugford, Kristin, William Vrattos, and Radhika Kak. "Jaypee Infratech and the Indian Bankruptcy Code." Harvard Business School Case 222-071, February 2022. (Revised December 2022.)
  • Educators

About The Authors

Kristin W. Mugford

Finance
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William C. Vrattos

Finance
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Related Work

    • February 2022 (Revised December 2022)
    • Faculty Research

    Jaypee Infratech and the Indian Bankruptcy Code

    By: Kristin Mugford, William Vrattos and Radhika Kak
Related Work
  • Jaypee Infratech and the Indian Bankruptcy Code By: Kristin Mugford, William Vrattos and Radhika Kak
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