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.
While improving NCLT infrastructure is a welcome move, the lack of adequate information utilities have handicapped the bankruptcy law.
The voting process would start on Thursday at 9 am and end on Sunday at 5 pm
These cases were expected to be fully resolved in the January-March quarter, but are still awaiting final orders from the NCLT or other regulatory approvals, which have resulted in higher provisioning for lenders.
NBCC's revised bid to acquire Jaypee Infratech was expected to be discussed today by the Committee of Creditors (CoC).
A two-member bench headed by NCLT President Justice M M Kumar observed that ICICI Bank has already raised similar claims against its parent company Era Infra Engineering, which is currently undergoing resolution process.
This is the second time that the tribunal has sought details of Rs 600 crore, and asked them to file written submission on the same.
The move comes after concerns over the embattled realty firm's impediment in assisting the court-appointed forensic auditors.
The committee of creditors will reconvene on May 14 to take a final call on the revised bid by NBCC, sources said.
Despite warts and all, IBC is an improvement over the previous tools available to creditors to recover their money from defaulters.
SSG Capital counsel told the NCLT that the lenders rejected their revised bid without offering any reason and that its resolution plan of Rs 4,506 crore offered Rs 1,000 crore upfront.
The RP sought the exclusion from April 30, 2018 to May 30, 2019 as the initial insolvency proceedings was stayed by the National Company Law Appellate Tribunal (NCLAT) and later by the apex court.
The NBCC bid is likely to be discussed at the May 9 meeting, sources told Moneycontrol.
ABG Shipyard is undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC, 2016) as per the NCLT orders.
Vodafone Idea has reportedly received valuation of around Rs 15,000 crore for its telecom fibre assets.
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.
The average resolution timeline for these 94 cases resolved was 324 days as against the stipulated timeline of 270 days.
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.
Homegrown FMCG major almost got a walk over after rival Adani Wilmar decided to pull out from the race despite being selected the highest bidder few months back.
RCom in May last year had filed a petition before the National Company Law Appellate Tribunal (NCLAT) against the NCLT order on a plea by global telecom gear maker Ericsson.
The bank has approached the Allahabad bench of the NCLT court to extend the Corporate Insolvency Resolution Process (CIRP) as the deadline expires on May 6, sources said.
Homebuyers complain that the situation has left them confused.
Offer by Mumbai-based Suraksha Group will likely be the only one to be put to vote next week.
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for the Madhya Pradesh-based Ruchi Soya.
The ministry is filling two applications and a petition against Bawa and his wife and the banks after it has come to light that the parties have broken the orders of the bankruptcy tribunal.