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 the insolvency process.
The two-day voting process, which began on May 27, to decide whether a further extension should be given to both the contenders concluded on Friday evening.
Sources said that members representing 98.54 per cent of the voting rights gave their assent to the proposal to provide a final opportunity to both the resolution applicants to submit their revised bids.
The deadline for submission of the final bids is June 4 and resolution plans should be compliant with insolvency law and a Supreme Court judgement on March 24, they added.
