January 2020 \ Business & Investment \ Industry News
NBCC gets 97% votes to acquire Jaypee Infra

In a major breakthrough in the resolution process ...

The resolution process has witnessed several obstructions including several attempts by its former promoters to get the insolvency process withdrawn and keep the company with themselves. The NBCC’s resolution plan, after the voting process, would have to go through the National Company Law Tribunal’s (NCLT) screening and obtain its approval. The construction is expected to start in April 2020.

Speaking to IANS, Aditya Gutgutia, a home buyer with JIL, said: “We have had a long legal fight. We just hope that we don’t get any legal tangle, anymore.”

Tags: NBCC