Suraksha Realty Hopeful Of Getting Favourable Vote On Jaypee Bid

Bloomberg Quint | Dec 9, 2019 at 9:11 PM
  • Mumbai-based Suraksha Realty on Monday expressed confidence that bankers and homebuyers will vote in favour of its bid to acquire bankrupt realtor Jaypee Infratech Ltd., saying that the company has substantially improved its resolution plan to maximise the value for financial creditors.
  • A Committee of Creditors on Saturday decided that homebuyers and lenders of Jaypee Infratech will vote on the bids of state-owned NBCC (India) Ltd. and private sector firm Suraksha Realty at the same time.
  • In its latest bid, Suraksha Realty further improved its bid to acquire Jaypee Infratech by offering more land and upfront cash to lenders.