Jaypee Infratech: Lenders, home buyers approve evaluation criteria for bankruptcy process

By EDITORIAL TEAM INSOL INDIA Posted On : January 15, 2019

Lenders and home buyers of debt-ridden Jaypee Infratech has 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 have also approved process note for the request of resolution plan apart from evaluation matrix. Both the proposals were passed with members representing over 60 % (sixty percent) of the voting rights assented to them.