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NBCC not interested in Jaypee Infratech acquisition anymore

Updated : June 30, 2019 05:24 PM IST

After the latest round of voting, whereby NBCC's bid was rejected as the banks led by IDBI Bank voted against it, the management in the state-run company is not enthusiastic about moving ahead on that front.
NBCC chairman Anoop Kumar Mittal, who was known to be bullish with his intention to acquire JIL, relinquished his office in March 2019 after the government denied extension of his service till his date of superannuation in January 2020.
The bid to acquire the insolvent JIL was put to vote from May 31 to June 10 and a majority of the lenders, led by IDBI Bank, voted against the bid on the grounds that it was conditional.
NBCC not interested in Jaypee Infratech acquisition anymore
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