The members of Committee of Creditors of Jaypee Infratech Ltd will vote on the offers submitted by Suraksha Group and NBCC India from June 14th till June 23rd as both bids are found compliant as per the IBC (Insolvency and Bankruptcy Code), 2016.
In the CoC meeting held today, the resolution professional asked government owned, NBCC to first get permission from Yamuna Express Industrial Development Authority (YEIDA) for its offer to transfer part of its land bank to the lenders. NBCC offered to get the permission from YEIDA before the NCLT approval.
Jaypee Infratech was sent for debt resolution in August 2017 after the company failed to repay its debt worth Rs 22,000 crore.
