State-owned NBCC on Friday submitted its final bid to acquire Jaypee Infratech Ltd (JIL) while rival Suraksha group sought more time to make the final offer for the debt-laden realty firm
The development comes after the Supreme Court in April ordered submission of fresh plans by NBCC and Suraksha.
Financial creditors of embattled Jaypee Infratech have decided to give more time to state-owned NBCC and Suraksha group to submit their final bids to acquire the realty firm through insolvency process
At its meeting held on May 24, the Committee of Creditors (CoC) deferred the voting on Suraksha Group's bid
Lenders to vote on Suraksha plan from Monday
Despite being sent to the bankruptcy courts in August 2017 and SC orders, lenders await resolution of Rs 22,000 cr debt
CoC to meet today as NBCC sweetens Jaypee Infra offer
State-owned construction firm NBCC (India) Ltd said it has bagged a contract worth about Rs 597 crore in Uttarakhand
State-owned NBCC and Suraksha group, which are in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), will submit their revised bids by Tuesday
Lenders and homebuyers of Jaypee Infratech will meet on May 15 to discuss the revised bids submitted by state-owned NBCC and Suraksha group to acquire debt-laden realty firm through insolvency process
NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised bids and improved their offers for financial creditors.
Lenders of Jaypee Infratech have asked state-owned NBCC to take the government's approval for the revised bid that it has submitted to acquire the bankruptcy-bound real estate firm.
This is the fourth round of bidding process for Jaypee Infratech, which went into insolvency proceedings in August 2017
State-owned NBCC Ltd on Wednesday reported a 75 per cent increase in its consolidated net profit to Rs 96.98 crore for the third quarter ended December 2020.
State-owned construction firm NBCC on Wednesday reported a consolidated net profit of Rs 45.61 crore for the quarter ended September. The company had posted a net loss of Rs 90.91 crore in the year-ago period. Total income stood at Rs 1,426.27 crore in the second quarter of this fiscal year as against Rs 1,720.46 crore in the corresponding period of the previous year, according to a regulatory filing. The board also decided to close NBCC Engineering & Consultancy Limited, a wholly-owned subsidiary company of NBCC, through Winding-up. It also approved the closure of NBCC Gulf LLC, a foreign subsidiary company of NBCC, through liqui00dation, the filing said.
NBCC's sales for the quarter declined 64.10 per cent to Rs 676.95 crore.
Its net profit stood at Rs 142.45 crore in the year-ago period, the company said in a regulatory filing
State-owned firm NBCC has bagged Rs 150 crore project from Election Commission of India to design and construct an office building at Dwarka in the national capital
IMC formed pursuant to directions of NCLAT had requested Aggarwal to continue till July 31, 2020, for smooth functioning/transition
In a regulatory filing, NBCC (India) Limited informed that it has received two orders on PMC (Project Management Consultant) basis