At its meeting held on May 24, the Committee of Creditors (CoC) deferred the voting on Suraksha Group s bid. It also decided to conduct a voting process on May 27-28 to decide whether the two contenders NBCC and Suraksha should be given additional time to submit their revised and final bids.
Creditors panel defers voting on Suraksha s offer for bankrupt-Jaypee Infratech: IRP
Jaypee Infratech s financial creditors have decided to defer the voting process on Suraksha group s bid, that was scheduled to start from Monday noon, to acquire the troubled realty firm through insolvency.
The decision to defer the voting was taken on Monday morning in a meeting of the Committee of Creditors (CoC), which was called after NBCC
suo motto submitted 14 page addendum to its resolution plan.
When asked whether voting on Suraksha bid has been deferred, Jaypee Infratech s (JIL) Interim Resolution Professional (IRP) Anuj Jain said: Yes .
Sources said homebuyersâ representative in the panel will this week conduct a voting process for flat owners to decide whether extra time should be given to both the bidders NBCC and Suraksha.
Synopsis
Sources said homebuyers representative in the panel will this week conduct a voting process for flatowners to decide whether extra time should be given to both the bidders NBCC and Suraksha.
Agencies
In December 2019, the CoC, comprising 13 banks and around 21,000 homebuyers, approved the resolution plan of NBCC with a 97.36 per cent vote in favour during the third round of the bidding process.
Jaypee Infratech s financial creditors have decided to defer the voting process on Suraksha group s bid, that was scheduled to start from Monday noon, to acquire the troubled realty firm through insolvency. The decision to defer the voting was taken on Monday morning in a meeting of the Committee of Creditors (CoC), which was called after
Jaypee Infratech lenders to meet on Monday
May 23, 2021
NBCC challenged a decision by the CoC to consider only the bid submitted by Suraksha Group to acquire Jaypee’s stressed assets
NBCC challenged a decision by the CoC to consider only the bid submitted by Suraksha Group to acquire Jaypee’s stressed assets×
NBCC wrote to the company’s debt resolution professional Anuj Jain, questioning his jurisdiction and also sent clarification on the queries raised by the lenders
Jaypee Infratech’s lenders will meet on Monday to decide the future course of action on the submission made by state-owned NBCC. This comes after NBCC challenged a decision by the Committee of Creditors to consider only the bid submitted by Suraksha Group to acquire Jaypee’s stressed assets.
After NBCC salvo, Jaypee s CoC to meet on May 24 ahead of voting on Suraksha bid
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After NBCC salvo, Jaypee s CoC to meet on May 24 ahead of voting on Suraksha bidPTI
Last Updated: May 23, 2021, 03:50 PM IST
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Synopsis
On May 20, the Committee of Creditors (CoC) approved Suraksha group s bid and rejected the offer made by NBCC, which on May 22, shot off a strongly-worded letter to JIL s Interim Resolution Professional (IRP) questioning his jurisdiction.
Homebuyers claim amounting to Rs 13,364 crore and lenders claims worth Rs 9,783 crore were admitted last year.
The creditors panel of
Jaypee Infratech Ltd (JIL) will hold a meeting in the morning on May 24 to discuss submissions made by state-owned