Home buyers flex muscles, swing Jaypee Infra CoC to reject bankers' moves

In a meeting on October 17, CoC rejected appointment of Vijaykumar Iyer and Deloitte Touche Tohmatsu India LLP to assist with company's resolution process

Jaypee Infra's home-buyers have been given considerable amount of leverage as they are now a part of the Committee of Creditors (CoC) to the insolvent firm. In a meeting held on October 17, the CoC rejected the appointment of Vijaykumar Iyer and Deloitte Touche Tohmatsu India LLP to assist with the resolution process of the company. 

 

The most significant aspect of the voting pattern, documents show, is that decisions that bankers were comfortable and content with, were rejected (through abstention) by the home-buyers.