The e-voting started at 12 pm and will end on May 19 at 8 pm, sources said, adding the results will be declared on May 20.
The voting process would start on Thursday at 9 am and end on Sunday at 5 pm
NBCC's revised bid to acquire Jaypee Infratech was expected to be discussed today by the Committee of Creditors (CoC).
In October 2018, the IRP started a fresh initiative to revive Jaypee Infratech on the NCLT direction.
The committee of creditors will reconvene on May 14 to take a final call on the revised bid by NBCC, sources said.
The public sector unit has proposed infusion of Rs 200 crore equity capital, transfer of 950 acres of land worth Rs 5,000 crore to banks and completing construction of flats by July 2023 to settle an outstanding claim of Rs 23,723 crore of financial creditors.
The NBCC bid is likely to be discussed at the May 9 meeting, sources told Moneycontrol.
Homebuyers say that they are now focusing on the NCLT hearing on May 6 and are hopeful that the resolution process would get an extension. They are definitely not in favour of the company going into liquidation.
In a regulatory filing, NBCC said it has got the necessary approvals from the Ministry of Housing and Urban Affairs and other concerned departments for its bid.
The Committee of Creditors on April 26 had rejected the NBCC bid, terming it conditional and without the necessary approval from the government. The lenders had approved voting on a rival bid from Mumbai-based Suraksha Realty, backed by Sudhir Valia of Sun Pharma group.
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
Homebuyers complain that the situation has left them confused.
NBCC, which is also completing some projects of Amrapali group on the Supreme Court's direction, said its offer safeguards the interests of bankers as well as homebuyers.
Offer by Mumbai-based Suraksha Group will likely be the only one to be put to vote next week.
NBCC and Suraksha Realty group-led consortium, which are in the race to acquire Jaypee Infratech, were asked by the lenders to sweeten their offers.
Net Sales are expected to increase by 12.6 percent Y-o-Y (up 48.9 percent Q-o-Q) to Rs. 2,459.8 crore, according to ICICI Direct.
Homebuyers demand higher delay payment amount paid by NBCC and shorter timelines for completion of units.
A meeting of the Committee of Creditors (CoC) will be held on March 1, said Anuj Jain, the Insolvency Resolution Professional (IRP) of Jaypee Infratech, in a regulatory filing.
In a regulatory filing, NBCC said it has secured two new orders on PMC (project management consultancy) basis -- construction of residential accommodation for Institute of Liver and Biliary Sciences in New Delhi and construction of an office cum training centre for the Central Board of Direct Taxes in Saket in the national capital.
In its bid, NBCC has promised to deliver flats to homebuyers in four to five years from the transfer date, subject to the availability of the cash flows from the respective projects
This is the second time in less than a year that Jaiprakash Associates Ltd (JAL) has sought to retain control of the cash-strapped subsidiary.
The bench also wanted to know if the Debt Recovery Tribunal had been able to sell the real estate company's properties.
The National Housing Bank and some PSU banks may come forward to provide last mile funding to complete the unfinished projects
NBCC has been asked to start work on Amrapali Castle and Eden Park, both located in Noida. This is expected to benefit some 600-odd home buyers. A total of Rs 6.5 is crore required to complete these projects
The four shortlisted bidders, state-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group, were earlier asked to submit resolution plans by January 27 to revive Jaypee Infratech, which is undergoing insolvency proceedings in the National Company Law Tribunal (NCLT).