Jaypee Infratech lenders extend deadline for resolution plans till Feb 15

Move comes after NBCC, Cube Highways & Infrastructure and Suraksha ARC requested for extension of timelines for submission of binding resolution plans

Financial creditors and home buyers of Jaypee Infratech have extended the deadline till February 15 for shortlisted bidders to submit proposals to revive the debt-ridden realty firm, according to a regulatory filing.

The four shortlisted bidders, state-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group, were earlier asked to submit resolution plans by January 27 to revive Jaypee Infratech, which is undergoing insolvency proceedings in the National Company Law Tribunal (NCLT).

The proposal of 'Extension of last date for submission of Binding Resolution Plans by the Resolution Applicants till 15th February 2019' was approved by the Committee of Creditors (CoC) by