• SENSEX
    NIFTY 50
Finance

NCLAT annuls lenders' voting on NBCC's bid to acquire Jaypee Infratech

Updated : May 17, 2019 12:54 PM IST

Hearing a plea by IDBI Bank, seeking a stay or annulment of the voting process, a three-member bench of the NCLAT headed by Chairman Justice S J Mukhopadhaya asked the lenders to conduct a fresh voting from May 31.
IDBI Bank, the biggest lender to the debt-laden realty firm, had opposed NBCC's bid saying it was conditional.
It said NBCC's offer for the company was conditional upon grant of approval to transfer Yamuna Expressway's business to NBCC.
NCLAT annuls lenders' voting on NBCC's bid to acquire Jaypee Infratech
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV