New Delhi: State-owned NBCC is unlikely to dilute certain conditions, including exemption from tax liability, in its offer for debt-laden Jaypee Infratech but is ready to negotiate on the proposal related to unsold flats, sources said. Jaypee Infratech’s lenders have started negotiations with NBCC on the latter’s bid to acquire the realty firm.

Last week, the National Company Law Appellate Tribunal had annulled voting by homebuyers and lenders on NBCC’s bid and allowed renegotiation on the offer by May 30.