Jaypee panel to consider NBCC offer

Jaypee panel to consider NBCC offer
04/05/2019 , by , in News/Views

The Committee of Creditors (CoC) of beleaguered Jaypee Infratech will meet on Thursday to take up a plan for getting the delayed 21,000 apartments constructed by public sector company NBCC after lenders and home buyers rejected an offer from Suraksha Realty.

Less than 23.5% of the votes were in favour of Suraksha’s bid against the requirement of 66%, interim resolution professional Anuj Jain said in a stock exchange filing. This is the second time that Suraksha has failed to make the cut with the latest development putting a fresh cloud of uncertainty around one of the most closely watched insolvency cases, where thousands of middle-class home buyers have invested their savings.

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