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Read more about NBCC to submit project report on RINL s 22-acre land in Vizag by June-end on Business Standard. State-owned NBCC will submit the detailed project report (DPR) to RINL by month-end for the steel maker s 22.19 acre land in Visakhapatnam city, a popular tourist destination in Andhra Pradesh.
Read more about Jaypee Infra: Lenders to vote on Suraksha, NBCC offers from June 14 on Business Standard. In the CoC meeting, resolution professional asked NBCC to first get permission from Yamuna Express Industrial Development Authority (YEIDA) for its offer to transfer part of land bank to the lender.
Suraksha Group has sought at least seven days extension to submit an improved revised bid to acquire debt-laden Jaypee Infratech Ltd (JIL) through insolvency as it is exploring ways to sweeten its offer for both homebuyers and lenders. The Mumbai-based firm, which is pitted against NBCC to acquire JIL, did not submit its resolution plan on June 4 and rather sought at least seven-day extension to sweeten its offer for homebuyers and bankers. NBCC, however, submitted its resolution plan. It is up to financial creditors now to decide whether Suraksha should be given the extension or not. In a letter to Interim Resolution Plan (IRP) Anuj Jain on Friday, Suraksha Group asserted that it had already submitted a legally compliant resolution plan on May 18 and the bid was deliberated upon in the meeting of the CoC (Committee of Creditors).