The lenders of Jaypee Infratech, a Delhi-based bankrupt real estate firm, have missed the deadline of March 31 for the Rs 22,600 crore debt resolution with litigation delaying the process.
The matter will be heard on April 4 by the NCLT principal bench, New Delhi. “Jaypee was one of the first companies to be sent for debt resolution in August 2017. The resolution is now delayed by five years instead of six months’ deadline set under the Insolvency and Bankruptcy Code, 2016,” said a source close to the development.
Suraksha Realty had made the winning offer of Rs 7,736 crore