Motilal Oswal
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Motilal Oswal
Infrastructure

Jaypee Infratech: Suraksha Group's plan to be put to vote today

Updated : April 30, 2019 06:19 PM IST

The e-voting on Suraksha Group's plan will take place over three days in order to allow maximum participation from the 20,000 odd homebuyers of Jaypee Infratech that are now part of the creditors committee.
Suraksha Group’s offer includes payment of Rs 23 crore to operational creditors, settlement of Rs 5,000 crore of debt via a land swap deal and completion of the homebuyers’ project within three years.
If Suraksha Group's plan fails to receive the requisite votes, and if NCLT allows lenders more time under Insolvency and Bankruptcy Code (IBC), the creditors committee could also consider inviting fresh bids for Jaypee Infratech.
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