Jaypee Infratech’s financial creditors, which include bankers and homebuyers, will meet on May 30 to discuss state-owned NBCC’s bid to acquire the realty firm and complete stuck housing projects.
A meeting of Committee of Creditors (CoC) has been called on May 30. As many as 13 banks and 23,000 homebuyers have voting rights in the committee. Earlier this month, creditors rejected a bid by Mumbai-based Suraksha Realty through a voting process.
the CoC decided to put on vote the NBCC’s offer even as bankers were opposed to this move citing certain conditions in the resolution plan submitted by the public sector firm.
On the bankers’ plea, the National Company Law Appellate Tribunal (NCLAT) had on May 17 annulled voting by homebuyers and lenders on NBCC’s bid and allowed renegotiation on the offer by May 30. The voting process could start on May 31.
At present, bankers and NBCC are negotiating on the latter’s bid to acquire Jaypee Infratech.
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