Saturday 14 December 2019
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business-standard - 13 days ago

Jaypee Infra case: NBCC may offer more land to lenders, cut deadline to complete flats in final bid

State-owned NBCC Ltd is likely to offer more land to lenders and reduce timeline for completion of about 20,000 flats in its final bid to acquire bankrupt realty firm Jaypee Infratech, sources said. NBCC is considering to give additional land to lenders in lieu of its offer to provide profit share in unclaimed flats and some land parcel, which is pledged as well as under litigation, they added. For homebuyers, NBCC is looking to reduce the deadline for completing pending flats from four years timeline proposed in the bid submitted on November 17. In the last meeting of the Committee of Creditors (CoC) held on November 28, lenders asked NBBC and Suraksha Realty to make a final offer by next Tuesday (December 3) after revising their earlier bids by removing impediments and making it more lucrative for homebuyers as well as banks. Lenders had asked the NBCC to provide more land with clear title in lieu of its current offer of over 600 acres land that is under litigation and some ...


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