Interim resolution professional red-flags NBCC's Jaypee Infratech bid

CoC to meet on May 9; sources claim third round of bidding likely

In a move that might throw a spanner in NBCC’s grand plans of winning the bid for the beleaguered Jaypee Infratech (JIL) projects, Anuj Jain, the interim resolution professional in a letter to the committee of creditors (CoC), categorically said that the state-run infrastructure firm’s proposal is conditional and based on being granted relief from income-tax (I-T) liabilities.

On May 1, NBCC forwarded to the interim resolution professional a copy of a letter from the Ministry of Housing and Urban Development, granting approval to submit the resolution plan for JIL. NBCC further confirmed to the interim resolution professional by email