Jaypee Infratech: IRP extends time for voting on bid of Suraksha Realty

By Praveen Dwivedi
Photo: City Spidey
Posted: Apr 30, 2019

Considering the issues with the e-voting portal, the Interim Resolution Professional on Tuesday extended the time for voting on the bid of Suraksha Realty which is the only bidder in the fray to acquire Jaypee Infratech. The voting time has now been extended up to 12 pm on May 3.

Earlier, the period for three-day voting was from 9 am on April 30 to 5 pm on May 2. The decision to extend time for e-voting has come after home buyers complained that e-voting portal www.jaypeeinfratech.in was not working properly.  

“Soon after the voting started, many home buyers complained about issues with the e-voting portal. The message was conveyed to the appointed IRP Anuj Jain. Later, we received a message from IRP team that voting time has been extended till 12 pm on May 3 against May 2,” said Devendra Yadav, a flat buyer.

After the rejection of National Buildings Construction Corporation's (NBCC) bid, Suraksha Realty is the only bidder left for acquisition of Jaypee Infratech.

During the first round of insolvency proceedings, the lenders had rejected the Rs 7,350 crore bid of Lakshdeep which was part of the Suraksha Group. The lenders had reasoned that the amount was substantially lower than company's net worth and assets.

TAGS: Jaypee Infratech Insolvency proceddings / Voting on bid of Suraksha Realty / Jaypee Infratech case / Jaypee incomplete projects / Noida news