Kotak Investment, L&T Infrastructure along with three others have expressed interest in resolution of Jaypee Infratech
By INSOL INDIA - EDITORIAL BOARD Posted On : December 14, 2018
Pursuant to NCLT’s direction, the IRP of debt-ridden Jaypee Infratech had invited fresh expression of interest. The direction was received after the rejection of resolution plan presented by Suraksha Group, by the lenders of Jaypee Infratech. The IRP received five expressions of interest including those from Kotak Investment, L&T infrastructure, NBCC Limited, Singapore based- Cube Highways and Suraksha Group. Jaypee Infratech has an outstanding debt of nearly INR 9,800 crores availed from numerous banks including IDBI, Life Insurance Corporation, State Bank of India, Corporation Bank and Bank of Maharashtra, among others.