Wait gets longer for more than 25,000 homebuyers of Jaypee Infratech

With lenders reportedly turning down the NBCC bid, the projects will now head for a fourth round of bidding

More than 25,000 homebuyers of Jaypee Infratech’s beleaguered projects may have to wait till the end of this year to see any work start on the stalled towers. Lenders are learnt to have turned down the proposal submitted by NBCC (India) to acquire the company, according to people in the know.

While the exact percentage of votes cast in favour as well as against NBCC’s takeover plan has not been disclosed due to the National Company Law Appellate Tribunal (NCLAT) order, the people said that the bid, possibly, had not mustered the requisite nod of two-thirds of lenders and buyers.