NBCC to submit revised bid to acquire Jaypee Infratech by Apr 25
State-owned NBCC Ltd is likely to submit revised bid by April 25 for acquiring debt-ridden Jaypee Infratech and complete the housing projects.
Lenders of Jaypee Infratech met Tuesday here and asked NBCC to submit their plan by April 25 as requested by the public sector firm, sources said.
NBCC and Suraksha Group are in race to acquire bankruptcy-bound realty firm Jaypee Infratech. Separately, Jaypee group promoters have submitted over Rs 10,000 crore offer to settle lenders debt and complete projects but the same is not being considered.
In the last meeting, the committee of creditors (CoC) had asked both NBCC and Suraksha to sweeten their offer.
NBCC had even suggested that it was ready to work as project management consultant and charge fees for completing the stalled projects.
In its earlier resolution plan, NBCC offered 1,400 acre land worth Rs 6,000 crore as well as Yamuna Expressway to lenders.
It had proposed that banks should raise about Rs 2,000 crore against the expressway ..