NBCC looking to self-monetise Jaypee Infratech’s unsold stock

NBCC looking to self-monetise Jaypee Infratech’s unsold stock
01/10/2019 , by , in News/Views

Reversing its offer on bankrupt Jaypee Infratech’s (JIL)unsold inventory, public sector construction major NBCC may decide to monetise these assets on its own, rather than leaving the exercise for the bankers.

Sources said that the NBCC, in a revised resolution plan to be submitted in the Supreme Court in a week’s time, is likely to make this proposal to resolve the deadlock with the lenders and facilitate early resolution of Jaypee Infratech.

In its earlier offer for the bankrupt developer, the NBCC had offered to transfer Jaypee Infratech’s unsold residential inventory to lenders at Rs 1,700 crore, and then revised it to Rs 1,300 crore.

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