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Business conglomerate Adani Group has thrown its hat in the ring for acquiring the debt-ridden Jaypee Infratech.
State-owned NBCC is already in the race for taking control of Jaypee Infratech.
The bid filed by the Adani Group is learnt to be unsolicited and non-binding.
It may be recalled that Mumbai-based Suraksha Realty’s bid to acquire the company was earlier rejected by the financial creditors.
Later, State-owned infrastructure company NBCC’s fresh proposal to acquire the debt-ridden real estate firm was put to vote earlier in May.
However, bankers were opposed to this move, as they citied a few conditions in the resolution plan submitted by the NBCC.
On the bankers’ plea, the National Company Law Appellate Tribunal (NCLAT) had, on May 17, annulled the voting by homebuyers and lenders on NBCC’s bid, and allowed renegotiation on the offer by May 30.
CoC meet
A meeting of the CoC is expected to take place on Thursday.
There are 13 banks and 23,000 homebuyers who have voting rights in the committee.
If it wins the bid, NBCC plans to infuse an equity capital of ₹200 crore and complete the construction of flats by July 2023.
Due to a board meeting, NBCC was not available to comment on Adani Group’s latest move. The Adani Group had earlier shown interest to be part of the bidding process for Jaypee Infratech, industry sources said.
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