Jaypee Infra CoC to discuss NBCC offer ahead of voting on Suraksha bid

The Committee of Creditors (CoC) of Jaypee Infratech will meet on Monday to discuss NBCC’s resolution plan after the latter submitted an addendum.

The meeting would start around 10 a.m. Further, voting on the resolution plan of Suraksha group will start around noon on Monday and go on till 5 p.m on Thursday, May 27.

The CoC approved Suraksha group’s bid on May 20 and rejected the NBCC’s bid citing non-compliance with the Insolvency and Bankruptcy Code (IBC).

The NBCC submitted an addendum after its bid was rejected.

According to people in the know, JIL’s IRP had submitted a report in the CoC meet, stating that NBCC plan was non-compliant to the IBC.

The development comes after the Supreme Court ordered submission of fresh plans by NBCC and Suraksha.