Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids by Tuesday
Jaypee Infra insolvency: NBCC, Suraksha submit revised bids
State-owned NBCC and Suraksha group, which are in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), will submit their revised bids by Tuesday.
According to sources, a meeting of Committee of Creditors (CoC) is likely to be held on May 19 to discuss the bids submitted by both the parties under the Corporate Insolvency Resolution Process (CIRP).
In the last meeting of the CoC held on Saturday, financial creditors, which includes representatives of lenders and homebuyers, discussed their bids and sought various clarifications.
Jaypee Infra insolvency: NBCC, Suraksha asked to submit revised bids business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
The agenda of the meeting was not disclosed. However, sources said that the lenders and homebuyers will discuss the revised bids submitted on Monday by the two parties that are in race to acquire JIL.
Jaypee Infratech insolvency: NBCC sweetens bid, to offer up to 1,903 acres land to lenders
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Jaypee Infratech insolvency: NBCC sweetens bid, to offer up to 1,903 acres land to lendersPTI
Last Updated: Apr 30, 2021, 12:16 AM IST
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Synopsis
Earlier this month, NBCC and Mumbai-based Suraksha group submitted their fresh bids to acquire Jaypee Infratech through the insolvency process, as per the direction of the Supreme Court. According to sources, a meeting of committee of creditors (CoC) was held on Thursday to discuss the bids of both the parties.
Agencies
NBCC has revised its bid to offer up to 1,903 acre land parcels, mainly in Noida and Greater Noida in Uttar Pradesh.
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