The sources said NBCC’s bid was found to be non-compliant with certain provisions of the insolvency law.
On Wednesday, construction firm NBCC and Suraksha group submitted their final resolution plans to acquire Jaypee Infratech Ltd (JIL) in the fourth round of corporate insolvency resolution process.
The sources said that a virtual meeting of the Committee of Creditors (CoC) was held on Thursday to discuss the bids.
During the meeting, it was decided to put on vote the Suraksha group’s resolution plan next week, they added.
Voting is likely to start from Monday and end on Thursday.
The committee decided not to put NBCC’s bid on voting as it found the offer of the public sector entity non-compliant with provisions of the insolvency l…
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