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Breaking News

NBCC, Suraksha's JIL bids to be put to vote

Saturday - December 7, 2019 10:04 pm , Category : BUSINESS
New Delhi, Dec 7 (IANS) The committee of creditors (CoC) of the bankrupt Jaypee Infratech (JIL) has decided to conduct voting on the bids by NBCC (India) and Suraksha Realty simultaneously, according to sources.
The voting process would start on December 10 and coontinue till December 16.
Earlier there was confusion over the voting process and several homebuyers were against the idea of putting the bid of Suraksha Realty first to vote.
Both state-owned NBCC and the Mumbai-based Suraksha submitted their revised and sweetened bid on Tuesday.
The decision comes a day after the Insolvency and Bankruptcy Board of India said, the resolution professional (RP) is duty-bound to conduct the voting in compliance with the Insolvency and Bankruptcy Code and the Supreme Court's judgement.

--IANS rrb/pcj