Voting on Suraksha offer for Jaypee Infra deferred; bidders get more time

Committee of Creditors gives Suraksha and NBCC India seven days to file revised bids.

Just hours before lenders were to take up Suraksha Group’s resolution plan for the acquisition of Jaypee Infratech (JIL) for voting, the Committee of Creditors (CoC) decided to give both bidders — Suraksha and NBCC India — one more chance to submit revised bids at an urgent meeting held on Monday.
 
The fresh bidding will be subject to voting by all CoC members this week.
 
Both Suraksha Group and NBCC India are in the race to buy the assets of JIL, which defaulted on Rs 22,000 crore of loans and was sent for debt resolution under the Insolvency