 "Lenders expect to close Jaypee Infratech’s debt resolution by March")
Indian lenders are expecting to sell Jaypee Infratech, a real estate firm, to Suraksha Realty by next month under the bankruptcy process thus ending a long drawn litigation over the company’s bankruptcy.
On Monday, the NCLT adjourned the hearing to Wednesday and a banker said a final decision by NCLT is expected by March last week as the delay has already crossed the time prescribed under the Insolvency and Bankruptcy Code, 2016 to complete the entire process. Suraksha Realty had made the winning bid of Rs 7,736 crore as against the government owned NBCC India’s Rs 6,536 crore offer
