Suraksha group beats NBCC India in close race to buy Jaypee Infratech

It's a photo finish with Suraksha getting 98.66% votes, while NBCC gets 98.54%

The bidding race for Jaypee Infratech ended in a photo finish on Wednesday, with the Suraksha group’s resolution plan winning 98.66 per cent of the committee of creditors’ (CoC) votes and NBCC India receiving 98.54 per cent of the votes.

Both plans were put up for voting separately, and the tight result is leading to speculation that NBCC may move court again.

All lenders, except ICICI Bank, voted in favour of both the plans, while most homebuyers chose NBCC. However, dissent by Srei Infrastructure against NBCC’s plan tilted the scales in favour of Suraksha.

Jaypee Infratech, which owns the Delhi-Agra expressway and land