Jaypee Infra lenders reject NBCC bid, to vote on Suraksha offer: Reports

NBCC had submitted its revised bid on April 24 and offered to give lenders Rs 5,000 crore worth land parcels as against the earlier offer of land worth Rs 3,000 crore

Lenders of debt-ridden Jaypee Infratech are believed to have rejected the bid of state-owned NBCC Ltd and will put to vote the offer of Mumbai-based Suraksha Realty for acquiring the realty firm, sources said.

A meeting of Committee of Creditors (CoC) was held on Friday to consider the revised offers of both NBCC Ltd and Suraksha group to acquire Jaypee Infratech and complete over 20,000 housing units in various projects in Noida.

According to a source, the CoC decided not to consider the NBCC's bid as it found the offer to be conditional and subject to approvals from various government departments.

The offer