NBCC, Suraksha Group Submit Revised Bids For Jaypee Infratech

State-owned NBCC and Mumbai-based Suraksha group have submitted their revised bids to acquire debt-laden Jaypee Infratech
BY Realty Plus
Published - Friday, 09 Apr, 2021

State-owned NBCC and Mumbai-based Suraksha group have submitted their revised bids to acquire debt-laden Jaypee Infratech through an insolvency process, as per the direction of the Supreme Court. Last month, the Supreme Court remitted to the Committee of Creditors (CoC) the issue of approval of resolution plan for Jaypee Infratech Ltd (JIL), saying no new expression of interest will be entertained for taking over the firm and only NBCC and Suraksha Realty may file revised proposals. The apex court also directed to extend the resolution process by 45 days. NBCC and Suraksha group have submitted their resolution plans to Interim Resolution Professional (IRP) Anuj Jain. Jain told that NBCC and Suraksha group have submitted their bids and a meeting of the CoC is scheduled to be held on April 12.