Jaypee Infra insolvency: Lenders seek NCLAT's nod to vote against NBCC bid

In their prayer, lenders have also pleaded that Jaypee Infratech's Interim Resolution professional (IRP) Anuj Jain and the CoC should be allowed to explore other alternatives

Lenders of Jaypee Infratech have filed a petition before the National Company Law Appellate Tribunal (NCLAT) to allow them to vote against state-owned NBCC's bid in an ongoing insolvency process, sources said.

The voting on NBCC's bid started on Friday and will continue till June 10.

On Thursday, the committee of creditors (CoC) had decided to put on vote NBCC's bid to acquire the debt-laden realty firm even as the bankers had reservation on the state-owned firm not agreeing to dilute certain conditions in its offer including relief from future tax liabilities.

According to the sources, the IDBI Bank-led consortium