Suraksha Group Gets Lenders', Homebuyers' Approval To Buy Jaypee Infratech

In a tight finish, Suraksha group got 98.66 per cent votes compared to NBCC's 98.54 per cent.

Financial creditors of Jaypee Infratech Ltd (JIL) on Wednesday picked Mumbai-based Suraksha group over state-owned NBCC for taking over the insolvent firm, giving hopes that thousands of homebuyers may finally get possession of their flats after many years of delay. The 10-day-long voting process on the takeover proposals submitted by NBCC and Suraksha group ended on Wednesday afternoon. In a tight finish, Suraksha group got 98.66 per cent votes compared to NBCC's 98.54 per cent. This was the fourth round of bidding to find a buyer for JIL, which went into Corporate Insolvency Resolution Process (CIRP) in August 2017. "Suraksha group has won the bid with 98.66 per cent votes," JIL's Interim Resolution Professional (IRP) Anuj Jain told PTI.