According to sources, lenders have shown reluctance to acquire up to 2,207 unsold flats worth Rs 1,756 crore as proposed by NBCC in its revised offer
Appellate tribunal says Jaypee committee of creditors can renegotiate with NBCC if need be. Voting to resume on May 31.
The voting process was to end on Sunday and the outcome declared on May 20
Committee of Creditors are likely to decide on NBCC plan for Jaypee Infratech in a meeting this week.
The NBCC's revised bid to acquire Jaypee Infratech and complete the work of over 20,000 flats would be discussed on May 14 by the Committee of Creditors (CoC)
Lenders wrote a letter to NBCC late on Friday regarding this matter, they said, adding that the public sector firm has been told to reply by May 13 as the lenders' meet has been fixed for May 14
Lenders and homebuyers would meet again on May 14 to continue the discussion
NBCC was also asked how it will fund the takeover which was answered by its officials. Earlier it's bid was rejected on technical grounds.
CoC to meet on May 9; sources claim third round of bidding likely
The Committee of Creditors (CoC) is scheduled to meet on Thursday (May 9) to discuss NBCC's revised offer to acquire debt-laden Jaypee Infratech
The committee of creditors (CoC) of the debt-ridden developer will meet on May 9 to discuss NBCC's revised bid
While Adani group has shown interest in making bid for Jaypee Infratech, Jaypee group has also submitted a bid for regaining control of its realty firm
IDBI had approached the NCLT seeking extension of the corporate insolvency resolution process beyond the May 6 deadline as proceedings are still underway to find a buyer for Jaypee group's realty firm
The meeting has been called as creditors on Friday rejected the bid of Mumbai-based Suraksha Realty group
Under the insolvency proceedings, 41 per cent of the members of the committee of creditors (CoC) voted against the proposal, while 23 per cent were in favour
Aggrieved buyers, who have booked flats in Jaypee Infratech projects, also complained that voting process is not being carried out in a fair manner
The Committee of Creditors on April 26 had rejected the NBCC bid, terming it conditional and without the necessary approval from the government
NBCC said its offer safeguards the interests of bankers as well as homebuyers
The CoC decided not to consider NBCC's bid as it found the offer to be conditional and subject to approvals from various government departments
State-run infrastructure firm says will deliver the houses to buyers in 3 years if it wins the bid