(ET)
State-run NBCC has informed home buyers of crisis-hit realty developer Jaypee Infratech that it would rely on monetising the latter’s assets rather than putting own funds to complete the stuck projects. NBCC also assured the home buyers of completing the pending projects within 3 years if its acquisition bid gets accepted. The assurance came on a query from one of the homebuyers that NBCC in its resolution plan had proposed infusing only Rs 500 crore into Jaypee Infratech against which it would get 2,000 acres and 6,000 units of unsold, or unclaimed home units. Two companies — NBCC and Suraksha Asset Reconstruction Company — have submitted separate bids to acquire Jaypee Infratech under the Insolvency & Bankruptcy Process.
