Lenders of debt-ridden Jaypee Infratech met Thursday here to discuss bids of state-owned NBCC Ltd and Suraksha Group for the bankruptcy-bound realty firm and asked them to sweeten their offers, sources said. NBCC, which has the backing of the government, is unlikely to increase the offer of Rs 500 crore capital infusion but is ready to help lenders in monetisation of the Yamuna Expressway and the land offered by the PSU in its resolution plan, they said.
A meeting of the committee of creditors (CoC) was held to discuss resolution plans submitted by NBCC and Suraksha Group. The CoC will soon formally write to both the bidders to submit revised bids based on the discussions held.
In the meeting, NBCC suggested that the company would complete and deliver stalled projects to homebuyers in three years instead of the earlier promise of four-five years, they said.
NBCC also said it was ready to work as project management consultant and charge fees for completing the stalled projects, while lenders could keep control of Jaypee Infratech, the sources said.
It proposed that banks should raise about Rs 2,000 crore against the expressway and provide half of the amount (Rs 1,000 crore) to the state-owned company, which would utilise the fund as an upfront payment.

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