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Jaypee case: NBCC receives approvals from govt departments for revised offer

Financial creditors and home-buyers are presently voting on Suraksha Realty's bid. The voting process started on Wednesday and would conclude on May 3

NBCC, whose bid to acquire Jaypee Infratech got rejected by lenders last week on account of lack of approvals by the administrative authorities, has received the go-ahead from government departments for its revised offer to acquire debt-ridden Jaypee Infratech, sources told Moneycontrol.

They said NBCC has received approvals from the Department of Expenditure and the Department of Investment and Public Asset Management (DIPAM) for its revised offer.

Meanwhile, financial creditors and home-buyers are presently voting on Suraksha Realty's bid. The voting process started on Wednesday and would conclude on May 3.

Voting opened at 9 am on Monday but the website did not respond. Homebuyers’ representative Kuldeep Verma sent out a message to all buyers on Monday that the service provider has communicated that due to system error, the voting portal www.jaypeeinfratechar.in is currently not responding. IRP team is working with the service provider to resolve this issue at the earliest… The voting line shall be open till 1200 hours on May 3, 2019, the message read.