Lenders to vote on NBCC offer for insolvent Jaypee Infratech from Friday

Lenders will vote on the offer made by NBCC for insolvent Jaypee Infratech from Saturday onwards, till June 10.

A late and unsolicited bid by the Adani group was kept in abeyance by the Committee of Creditors (CoC), which met on Thursday. Apart from the banks, the CoC also consists of home owners, who would have an important say in the voting.  The CoC requires 66 per cent of the votes to clear NBCC’s proposal.

NBCC has promised to complete by July 2023 all the apartments Jaypee was to develop. It has support of the home owners, said a source.

NBCC's proposal includes