Jaypee Infra insolvency meets more hurdles: NCLAT defers voting on NBCC bids
  • WebDesk BTVI
  • May 17 2019

The National Company Law Appellate Tribunal deferred the voting by committee of creditors on state-owned NBCC's bid to acquire Jaypee Infratech. The NCLAT decision came after IDBI Bank sought a stay or annulment of the voting process, calling the NBCC resolution not ‘viable’. The NCLAT bench directed for a fresh voting from May 31, thus giving the CoC more time to negotiate with NBCC.