Jaypee Infra insolvency: Financial creditors meet on May 15 to discuss bids

New Delhi : Lenders and homebuyers of Jaypee Infratech Ltd (JIL) will meet on May 15 to discuss the revised bids submitted by state-owned NBCC and Suraksha group to acquire debt-laden realty firm through insolvency process. In a regulatory filing, Jaypee Infratech informed that a meeting of committee of creditors (CoC) will be held on May 15.
The agenda of the meeting was not disclosed.
However, sources said that the lenders and homebuyers will discuss the revised bids submitted on Monday by the two parties that are in race to acquire JIL.
In the new resolution plan or bid, Suraksha group has now offered a line of credit of Rs 3,000 crore as working capital for construction of projects as against the earlier proposal of Rs 2,000 crore.
It has also given an undertaking that any shortfall to the dissenting creditors will be met by bringing more funds or assets.
NBCC is offering up to 1,903 acre, while Surakasha group has proposed over 2,600 acre to lenders.