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The creditors of Jaypee Infratech, including homebuyers and banks, will wait for the July 2 hearing at the National Company Law Appellate Tribunal (NCLAT) before deciding on the future course of action. They need to decide on whether to consider the bids of Adani Group and Jaypee Group for the debt-ridden real estate firm.
The Committee of Creditors (CoC), which met here on Thursday, will wait for the NCLAT’s direction.
On June 10, the lenders had rejected state-owned NBCC’s revised bid for the company. However, sources said it is still in the race as no final order has come from the CoC yet. The NCLAT has to decide on it.
The creditors were given a voting period of 10 days which ended on June 10. Homebuyers — who were in favour of NBCC acquiring Jaypee Infratech — voted in favour of the plan, while the lenders vetoed it.
The homebuyers had a vote share of 59 per cent, while the lenders had 41 per cent. Of the total 22,000 homebuyers, around 11,000 voted during the 10-day voting process which started on May 31.
The Adani Group’s bid is learnt to be unsolicited and non-binding.
It may be recalled that Mumbai-based Suraksha Realty’s proposal to acquire the company was earlier rejected by the financial creditors.
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