Jaypee Infratech insolvency: Creditors decide to vote on NBCC bid to acquire debt-laden realty firm from Friday
The voting under the insolvency process, run by Jaypee Infratech's Interim Resolution Professional (IRP) Anuj Jain, will start from Friday and continue till 10 June, they added.
At present, bankers and NBCC are negotiating on the latter's bid to acquire Jaypee Infratech.
Jaypee Infratech creditors decide to put on vote NBCC's revised bid; homebuyers likely to favour state-run firm
On Friday, lenders had written to NBCC seeking clarifications on certain relief and concessions put forward by the public sector firm in its resolution plan.
Jaypee Infratech takeover: Lenders seek clarification from NBCC on revised bid; creditors' panel to meet again on 14 May
NBCC was also asked how it will fund the takeover of Jaypee Infratech, sources said adding that NBCC officials answered all the queries.
Jaypee Infratech's IRP finds NBCC bid conditional, non-binding; creditors' panel meets on Thursday to discuss revised offer
The court-mandated deadline for completing the resolution plan for Japyee Infratech ended on 6 May and the CoC has sought an extension of the deadline.
Jaypee Infra insolvency: NBCC offers Rs 20 cr to operational creditors; panel to discuss revised offer on Thursday
Meanwhile, Adani group has shown interest in making bid for Jaypee Infratech, while Jaypee group too has submitted bid for regaining control of its realty firm.
Kotak Investment, L&T Infrastructure, NBCC among five firms show interest in taking over bankrupt Jaypee Infratech
Jaypee Infratech's IRP Anuj Jain had in October initiated a fresh initiative to revive Jaypee Infratech on NCLT's direction after lenders rejected over Rs 7,000 crore bid of Suraksha group.
Lanco Infratech liquidation: IRP seeks NCLT's direction; 270-day insolvency resolution deadline ends today
Lanco, among 12 firms identified by the RBI with high debt for proceedings under IBC, owes over Rs 44,000 crore to the IDBI Bank-led lenders consortium
Sensex, Nifty on a roller coaster: Will RBI monetary policy gift a surprise rate cut to panic-gripped investors today?
RBI is likely to opt for status quo as inflation inching up, fiscal slippage likely and banking system hesitant to fully pass on benefit of earlier rate cuts
The IRP will need to carefully study the impact of the final resolution act that will structurally impact the industry as well as other sectors too