New Delhi: Days after rejection of its bid to buy Jaypee Infratech Ltd (JIL), state-owned NBCC has questioned the jurisdiction of the interim resolution professional in submitting that the offer was non-compliant with the insolvency law and demanded that it should be put to vote.
Asserting that the offer is compliant, NBCC in a letter to the Interim Resolution Professional (IRP) also said the company is fully aware of its responsibilities to be compliant with applicable law in its deeds and actions.
On May 20, the Committee of Creditors (CoC) decided to put on vote only Suraksha Group’s bid for JIL. NBCC’s offer was rejected on the grounds that it was non-compliant with provisions related to treatment of dissenting financial creditors under the Insolvency and Bankruptcy Code (IBC).
