State-owned NBCC and Suraksha group, which are in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), will submit their revised bids by Tuesday.
According to sources, a meeting of Committee of Creditors (CoC) is likely to be held on May 19 to discuss the bids submitted by both the parties under the Corporate Insolvency Resolution Process (CIRP). In the last meeting of the CoC held on Saturday, financial creditors, which includes representatives of lenders and homebuyers, discussed their bids and sought various clarifications. During the meeting, both NBCC and Suraksha were asked to make necessary changes and submit their revised bids.
In this fourth round of bidding process, NBCC is offering up to 1,903 acre, while Surakasha group h…
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