Lenders, Homebuyers Approve NBCC’s Bid For Jaypee Infra

Nearly all lenders approved state-run NBCC (India) Ltd.’s bid for Jaypee Infratech Ltd., paving the way for completion of apartments for more than 22,000 homebuyers.

Suraksha ARC offered to:

• Make upfront payment of Rs 175 crore to financial creditors.
• Securitise 2,200 acres of land worth over Rs 9,600 crore through debt instruments.
• Build apartments for homebuyers in three years.

Abhishek Dubey, secretary, Kosmos Association of Jaypee Infra Homebuyers, told BloombergQuint that they want the resolution professional to swiftly hand over the project to NBCC within next three months.