NEW DELHI :
As many as 23,000 beleaguered homebuyers of Jaypee Infratech Limited are confident state-owned NBCC Limited will win the bid to revive the stalled realty projects of the insolvent realty firm.
“Jaypee Wishtown Noida is a huge project comprising of 25,000 unfinished flats. Only NBCC has the experience of developing townships and large building complexes in the NCR region. The support of government and its Navratna PSU status has instilled confidence in the homebuyers," a consortium of homebuyers said in a letter to the Committee of Creditors (CoC).
The CoC, in its meeting on 7 December, decided to put to vote both NBCC Ltd and private sector firm Suraksha Realty to acquire the bankrupt realty firm. The e-voting that began 10 December shall close on 16 December, Jaypee said in a BSE filing.
As many as 13 banks and over 23,000 homebuyers have voting rights in the CoC. Buyers have 60% votes and rest lies with bankers. 66% votes are required for a bid to be approved. Homebuyers claim amounting to over ₹13,000 crore has been admitted, while banks’ claim is worth ₹9,800 crore.
The CoC had earlier said the highest bid would be put to vote first.
NBCC in its final bid has offered 1,526 acres of land to lenders as against its earlier proposal of 1,426 acres. For homebuyers, it has reduced the deadline for the completion of over 20,000 flats to three-and-a-half years from the earlier four years.
Suraksha Realty, on the other hand, has offered 2,220 acres of land worth ₹9,800 crore under the land-debt swap deal. Earlier, it had offered 1,934 acres of land worth ₹7,857 crore. This will cover the entire claim of lenders which is ₹9,800 crore.