NBCC won’t dilute conditions for Jaypee Infratech

New Delhi: NBCC Monday decided against diluting certain conditions, including exemption from tax liability, in its revised offer for debt-laden Jaypee Infratech even as lenders have flagged serious concerns about the state-owned firm’s conditional bid, sources said.

The NBCC’s revised bid to acquire Jaypee Infratech and complete the work of over 20,000 flats would be discussed on May 14 by the Committee of Creditors (CoC), they added. On Friday, lenders wrote to the NBCC seeking clarifications on certain relief and concessions put forward by the public sector firm in its resolution plan.

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