The lenders of debt-ridden Jaypee Infratech are scheduled to meet on 18th February for discussing the resolution plans that will be submitted by the four shortlisted bidders on Friday in order to acquire the real estate firm for completing the mid-stuck projects.
Anuj Jain, the Interim Resolution Professional [IRP] informed the stock exchange that the Committee of Creditors (CoC) are planned to meet on 18th February. However, the agenda of the meeting of CoC was not disclosed in the regulatory filing.
According to the sources, all proposals that are scheduled to be submitted by Friday will be discussed in the meeting that comprises of Committee of Creditors, representatives of homebuyers and the financial creditors.
Earlier, Anuj Jain, the IRP had informed about the four bidders that include state-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group as shortlisted companies for the submission of bids in the case of debt-ridden Jaypee Infratech group.
In October 2018, Anuj Jain, commenced fresh revival of Jaypee Infratech on the directions of the National Company Law Tribunal after the lenders rejected the bid of Suraksha group of more than Rs. 7,000 Crores.
Jain, IRP also invited companies and investors to submit resolution plans for the revival of Jaypee Infratech that has a couple of stalled projects in Noida and Greater Noida.
In 2017, the National Company Law Tribunal (NCLT) accepted the application filed by IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code (IBC).