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.
Telcos spectrum can t be treated as security interest by lenders: NCLAT
Telecom companies have the right to use spectrum under the licence granted to them. However, they cannot be said to be the owners in possession.
BusinessToday.In | April 14, 2021 | Updated 22:40 IST
The tribunal made it clear that spectrum cannot be treated as a security interest by the lenders .
Debt-ridden telecom companies undergoing insolvency proceedings cannot claim rights to their spectrum, a natural resource, if payments for spectrum usage have not been made to the government, the National Company Law Appellate Tribunal has said.
In what could be a landmark judgement amid multiple telecom players undergoing proceedings under the insolvency law, a three-member bench of the tribunal also made it clear that spectrum cannot be treated as a security interest by the lenders .
Prayagraj: The court functioning of National Company Law Tribunal (NCLT), Allahabad Bench has been deferred from April 12 to April 23, on account of i.
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