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Suraksha tries hard to gain confidence of Jaypee Infra's CoC
TIWN
Suraksha tries hard to gain confidence of Jaypee Infra's CoC
PHOTO : TIWN

New Delhi, Dec 9 (TIWN) With most of the home buyers of Jaypee Infratech (JIL) seen backing the state-run NBCC (India) to acquire the bankrupt company and its projects, Suraksha Realty, the other player in the fray has made several efforts this time round to gain the favour of the Committee of Creditors (CoC) including both banks and home buyers.

Apart from raising its land offering to the banks to 2,200 acres in its final bid, against its previous offer of 1,900 acres and increasing its upfront payment to the banks to Rs 175 crore from Rs 25 crore, the Mumbai-based company has also submitted a letter of technical and operational support from JSW Infrastructure.  The letter seen by IANS says: "JSW is keen to be associated with the project and has agreed to provide financial, technical and strategic support to Suraksha Realty for the success of the project." It, however, noted that the final arrangement of the support would be decided upon only if Suraksha wins the bid.  "JSW Group, through its infrastructure arm i.e. JSW Infrastructure Ltd, will finalise the arrangements for this strategic tie-up once Suraksha Realty emerges successful applicant," it added.  Further, in another addition in its final resolution plan, Suraksha also submitted a letter from Standard Chartered Bank whereby the bank says that it is interested in further considering to support the company, on the bank's terms.

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