Suraksha gets CoC nod to take over Jaypee Infratech; state-owned NBCC loses race by just 0.12% votes

Mumbai-based Suraksha Group on Wednesday received the approval of the committee of creditors (CoC) to take over bankrupt real estate firm Jaypee Infratech (JIL), with more than 98% of votes in favour of its resolution plan. The other contender, state-owned NBCC, lost the race by 0.12% votes.

This was the fourth round of bidding process to find a buyer for JIL, which went into Corporate Insolvency Resolution Process (CIRP) in August 2017.