Debt-laden Jaypee Infratech's lenders turn down NBCC's takeover bid

Apart from NBCC India, the Adani group also reportedly made an unsolicited, non-binding bid to acquire Jaypee Infratech

Lenders to debt-ridden real estate firm Jaypee Infratech have turned down the proposal submitted by NBCC (India) to acquire the company, sources said. 

While the exact percentage of votes in favour and against the NBCC takeover plan was not disclosed due to the National Company Law Appellate Tribunal (NCLAT) order, sources said the bid possibly has not mustered the requisite nod of two-thirds of the lenders and buyers. The lenders are also likely to opt for a fresh round of bidding and will consider new expression of interest from companies other than NBCC India, sources told Business Standard. 

“While nothing can be