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Govt okays NBCC's revised offer for Jaypee Infra

May 02, 2019 13:18 IST

State-owned NBCC or National Buildings Construction Corporation has received a go-ahead from government departments on its revised offer to acquire debt-ridden Jaypee Infratech within a week. The okay comes after its bid was rejected by a lenders' panel due to lack of necessary approvals. In 2017, the National Company Law Tribunal (NCLT) admitted the application by an IDBI Bank-led consortium seeking resolution of Jaypee Infratech. The realty firm has an outstanding debt of nearly Rs 9,800 crore.

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