In a relief for the state-run NBCC, the Committee of Creditors (CoC) of Jaypee Infratech (JIL) has given more time to NBCC and Suraksha group for submitting revised resolution plans to acquire the bankrupt company.
Both the applicants will now have to submit fresh bids by June 4.
Subsequently, the voting on Suraksha’s bid on May 28 was cancelled.
The voting over allowing both the companies to submit revised bids was conducted on May 27-28.
The CoC had approved the Suraksha group’s bid on May 20 and rejected the NBCC’s bid citing non-compliance with the Insolvency and Bankruptcy Code (IBC).
