Lenders and home buyers of debt-ridden Jaypee Infratech have approved evaluation criteria to be adopted to select a bidder for taking over the bankruptcy-bound realty firm.
State-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group have been shortlisted as bidders for debt-laden Jaypee Infratech.
According to a regulatory filing, the committee of creditors (CoC) also approved process note for the request of resolution plan (RFRP) apart from evaluation matrix. Both the proposals were passed with members representing over 60 per cent of the voting rights assented to them, it added.
‘As per discussion in the fourth CoC meeting held on 20 Dec 2018, the voting agenda 3 for extension of timeline for submitting resolution plans has been incorporated in process note for RFRP, and date of submission of resolution plans is revised to 27 January 2019,’ the filing said.
Jaypee Infratech is undergoing insolvency proceedings in the NCLT.