Jaypee Infra: Lenders ask NBCC for clarifications on revised bid

New Delhi: Lenders of Jaypee Infratech Thursday sought clarifications from NBCC on various relief measures and concession proposed by the state-owned firm in its revised bid to acquire the debt-ridden realty company, sources said.

The creditors' panel will meet again on May 14 to further discuss the revised bid of NBCC, they added.

The Committee of Creditors (CoC) met Thursday to discuss NBCC's revised offer after it rejected the bid of Mumbai-based Suraksha Realty on May 3 through a voting under the insolvency proceedings.

During the meeting, lenders and representatives of home buyers sought many clarifications from senior officials of NBCC. These queries were mainly related to relief measures and concession proposed by NBCC in its offer.

NBCC was also asked how it will fund the takeover of Jaypee Infratech, sources said adding that NBCC officials answered all the queries. It was decided in the meeting that lenders will send a written query to NBCC by Friday and the public sector firm would reply by May 13.

Lenders and homebuyers would meet again on May 14 to continue the discussion.

On May 3, creditors had rejected the bid of Suraksha Realty, which was lone contender left after NBCC's offer was rejected on technical grounds like non-approval of government departments as well as non-binding terms and conditions.