Jaypee Infratech
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NBCC i.e. the State-owned National Building Construction Company submitted a revised bid to acquire Jaypee Infratech that is debt-ridden and have a couple of stalled projects with more than 20,000 housing units in Noida and Greater Noida.

Out of five bidders, both the NBCC and the Suraksha group were ahead in the race as they were asked by the Jaypee group to make a little more realistic bid. After which the Suraksha group submitted the revised bid but NBCC asked for some more time to submit the same.

The details of revised bids from both the companies are yet to be disclosed.

Anuj Jain, Jaypee Infratech’s Interim Resolution Professional (IRP) informed that the Committee of Creditors (CoC) are scheduled to meet on 26th April. According to the sources, the lenders will then discuss the bids submitted by both the companies that are the Suraksha group and NBCC.

Recently, the Jaypee Infratech that is facing insolvency proceedings has promised to give Rs. 2,000 crore for the completion of mid-stuck projects in four years.

Manoj Gaur, Jaypee Group chairman called a meeting with homebuyers a few days back and this is seen as an initiative to gain flat owners’ support to resolve the issue of delivering 20,524 housing units. The promoters of the company also apologized to the home buyers who are waiting for their home from a long time while laying the proposal to infuse Rs. 2,000 crores to complete the projects within the next four years.

Jaiprakash Gaur, founder of Jaypee Group also attended the meeting and more than one thousand homebuyers were also present in the meet. Whereas nearly a dozen flat owners boycotted the meet and protested at the venue – Jaypee Institute of Information Technology, in Noida.

Read more at : –  NBCC to submit revised bid for Jaypee Infratech by 25th April