Lenders and homebuyers would meet again on May 14 to continue the discussion
NBCC was also asked how it will fund the takeover which was answered by its officials. Earlier it's bid was rejected on technical grounds.
CoC to meet on May 9; sources claim third round of bidding likely
The Committee of Creditors (CoC) is scheduled to meet on Thursday (May 9) to discuss NBCC's revised offer to acquire debt-laden Jaypee Infratech
The committee of creditors (CoC) of the debt-ridden developer will meet on May 9 to discuss NBCC's revised bid
While Adani group has shown interest in making bid for Jaypee Infratech, Jaypee group has also submitted a bid for regaining control of its realty firm
IDBI had approached the NCLT seeking extension of the corporate insolvency resolution process beyond the May 6 deadline as proceedings are still underway to find a buyer for Jaypee group's realty firm
The meeting has been called as creditors on Friday rejected the bid of Mumbai-based Suraksha Realty group
Under the insolvency proceedings, 41 per cent of the members of the committee of creditors (CoC) voted against the proposal, while 23 per cent were in favour
Aggrieved buyers, who have booked flats in Jaypee Infratech projects, also complained that voting process is not being carried out in a fair manner
The Committee of Creditors on April 26 had rejected the NBCC bid, terming it conditional and without the necessary approval from the government
NBCC said its offer safeguards the interests of bankers as well as homebuyers
The CoC decided not to consider NBCC's bid as it found the offer to be conditional and subject to approvals from various government departments
State-run infrastructure firm says will deliver the houses to buyers in 3 years if it wins the bid
NBCC had submitted its revised bid on April 24 and offered to give lenders Rs 5,000 crore worth land parcels as against the earlier offer of land worth Rs 3,000 crore
Last week, crisis-hit Jaypee Group's promoters made a fresh attempt to retain control over its arm Jaypee Infratech by seeking the support of homebuyers
NBCC and Suraksha group are expected to submit their revised resolution plans by April 25 to complete over 20,000 pending housing units to aggrieved home buyers
Promising to complete and hand over the remaining units, Gaur sought another chance from the homebuyers
In the first round, the Rs 7,350 crore bid of Lakshdeep, part of Suraksha group, was rejected by lenders as it was found to be substantially lower than the company's net worth and assets
Lenders to vote on Jaypee Infra bidder from Wednesday