Jaypee Infra resolution: Suraksha edges out NBCC in CoC voting

Mumbai-based realty firm Suraksha Group pipped state-owned NBCC by 0.12 per cent votes to receive approval of the committee of creditors (CoC) for its resolution plan for debt-laden Jaypee Infratech (JIL). Suraksha Group received more than 98 per cent of the votes in favour of its resolution plan.

Jaypee Infratech, which was admitted into insolvency in August 2017, has been through three rounds of unsuccessful bidding. This was the fourth round of bidding to find a bidder for JIL.

“Suraksha Group has won the bid with 98.66 per cent votes. It got 0.12 per cent more votes than NBCC,” JIL’s interim resolution professional Anuj Jain said after the 10-day voting on the revised resolution plans of the Suraksha and NBCC concluded Wednesday.