India: Lenders, homebuyers okay NBCC's bid to buy Jaypee Infratech

India: Lenders, homebuyers okay NBCC's bid to buy Jaypee Infratech

Photo by rawpixel.com on Unsplash

The agony of thousands of homebuyers of various projects of the bankrupt Jaypee Infratech Limited may end soon after a week-long voting process threw up NBCC Limited as an overwhelming favourite to complete the under-construction assets. Pitted against a consortium of Suraksha Realty Limited and Lakshdeep Investments and Finance Private Limited, the state-owned company secured 97.36% of the votes that had 13 lenders and over 12,000 homebuyers participating in the exercise.

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