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NBCC informed the exchanges on Wednesday that it has submitted a revised resolution plan on Dec 3 for Jaypee Infratech Ltd.
The company said, "(In reference to)...the corporate Insolvency Resolution Process of Jaypee Infratech Limited (JIL) and our previous intimation vide letter dated November 18, 2019, wherein it was informed that NBCC has submitted the Resolution Plan for Jaypee Infratech Limited on November 17, 2019. It is hereby further informed that, the Company has submitted the Revised Resolution Plan for Jaypee Infratech Limited on December 3, 2019."
Besides NBCC, Suraksha Realty has also submitted the revised final bid after lenders asked the companies to enhance their proposal. The final bids would be taken up at the next Committee of Creditors meeting scheduled for December 7, according to media sources.
NBCC in its final bid has raised its offer for land by 100 acres. It is offering 1,526 acres of land to lenders vs. its earlier proposal of 1,426 acres. For home buyers, it has also decided to trim the deadline for the completion of over 20,000 flats to 3.5 years from 4 years.
NBCC (India) Ltd ended at Rs35.95 down by Rs1.4 or 3.75% from its previous closing of Rs37.35 on the BSE.
The scrip opened at Rs37.15 and touched a high and low of Rs38 and Rs35.80 respectively. A total of 1,71,72,546 (NSE+BSE) shares were traded on the counter.
The current market cap of the company is Rs6,471cr.
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