This will be the third round of bidding process in the Jaypee Infratech insolvency matter. In 2017, Jaypee Infratech went into insolvency process after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium. In the first round of insolvency proceedings conducted last year, the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group, was rejected by lenders. Later in October 2018, the IRP started the second round of bidding process to revive Jaypee Infratech on the NCLT's direction. NBCC and Suraksha Realty took part in the bidding process but their plans were rejected by the lenders, and the matter reached to appellate tribunal and then the Supreme Court. As many as 13 banks and over 23,000 home buyers have voting rights in the CoC. Buyers have nearly 60 per cent votes. For the bid to be approved, 66 per cent voters should be in favour of the deal.