The Promoters Of Debt-Ridden Jaypee Infratech Have Made A Last Minute Offer

The promoters of debt-ridden Jaypee Infratech have made a last minute offer to withdraw the company from insolvency proceedings, sources aware of the development told CNBC-TV18.

As per this offer, JAL is offering an upfront payment of Rs 1,500 crore to the financial creditors of Jaypee Infratech, another Rs 4,858 crore from transfer of 100 percent shareholding of JIL's Land Bank SPV to financial creditors towards settlement of dues via a debt-asset swap and Rs 2,000 crore as optionally convertible debentures at a coupon rate of 0.01 percent per annum.

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