Jaypee Infra insolvency: Lenders ask NBCC to take government, regulatory nod on resolution plan
Jaypee Infra insolvency: Lenders ask NBCC to take government, regulatory nod on resolution plan
Lenders of Jaypee Infratech have asked state-owned NBCC to take the government s approval for the revised bid that it has submitted to acquire the bankruptcy-bound real estate firm.
NBCC, which offered 1,526 acre of land to lenders, has also been asked to give the break-up and locations where these land parcels are situated in Noida and Greater Noida, Uttar Pradesh.
Last week, NBCC and Mumbai-based Suraksha group submitted their revised bids to acquire debt-laden Jaypee Infratech through an insolvency process, as per the direction of the Supreme Court.
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Jaypee Infra lenders ask NBCC to take govt, regulatory nod on resolution
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Industrials stocks were trading in the negative zone, with the S&P BSE Industrials index falling 243.72 points or 5.67% at 4054.08 at 13:49 IST. Among the components of the S&P BSE Industrials index, Bharat Heavy Electricals Ltd (down 11.17%), Ashoka Buildcon Ltd (down 10.78%),NBCC (India) Ltd (down 10.5%),Jaiprakash Associates Ltd (down 10.09%),Gayatri Projects Ltd (down 9.77%), were the top losers. Among the other losers were Simplex Infrastructures Ltd (down 9.75%), HEG Ltd (down 9.54%), Gati Ltd (down 9.5%), Suzlon Energy Ltd (down 9.39%), and Graphite India Ltd (down 9.17%).
At 13:49 IST, the S&P BSE Sensex was down 1741.92 or 3.51% at 47849.4.
The Nifty 50 index was down 526.6 points or 3.55% at 14308.25.
The S&P BSE Small-Cap index was down 984.39 points or 4.56% at 20612.46.