Jaypee Infratech bid: Creditors & NBCC differ on upfront cash infusion

Differences have arisen bet­ween NBCC, one of the bidders for Jaypee Infratech, and the creditors over up­front cash infusion into the company.

At a recent meeting of the committee of creditors of Jay­pee Infratech, NBCC argued that upfront cash infusion into the company should not be the criteria for selecting a bidder. NBCC argued, “Evalua­tion matrix should be linked to the construction cost i.e. the amount utilised for the construction rather than the am­ount infused in the company.” 

Business Standard has revie­wed the minutes of the creditors meeting in which potential bidders such as NBCC and Cube Highways & Infra­structure, along with