"The voting process on whether to seek fresh bids for JIL from Suraksha group and NBCC commenced on Thursday. "Even now, banks are for resolution, banks are for compliant plan and banks are going to vote for the plan which on merit basis is better for them," he told homebuyers.Stating that two months have already lapsed since Supreme Court order, Dave asked, "Why to reopen all things?... "Suraksha group has incorporated all wish lists of homebuyers and lenders in its resolution plan, he added.Further, Dave said the company is putting Rs 250 crore equity upfront and arranging Rs 3,000 crore construction finance loan to complete 20,000 flats within 42 months. "Funds are most critical raw material to achieve the timeline. It will also compensate those who made early payments.

Source: Economic Times May 27, 2021 10:27 UTC