The creditors’ panel of Jaypee Infratech Ltd (JIL) will meet on Monday morning to discuss submissions made by state-owned NBCC, a move that has been strongly objected to by the Suraksha group that also warned of legal recourse in case voting on its offer does not materialise as scheduled.

The sudden meeting of the committee of creditors (CoC) was decided upon after NBCC shot off a strongly-worded letter to the interim resolution professional (IRP) Anuj Jain, questioning his jurisdiction in rejecting the company’s offer for the bankrupt JIL.

The CoC had on May 20 decided to put to vote the offer made by the Suraksha group.

According to sources, the CoC meeting has been scheduled from 10am till noon. Interestingly, the voting on the Suraksha group’s bid is to start from noon on May 24 (Monday) and close at 5pm on May 27.

The sources said ratification and discussion on NBCC’s addendum dated May 22 to its resolution plan as well as the next steps in the CIRP (Corporate Insolvency Resolution Process) are part of the agenda for the CoC meeting.

The IRP took the decision to call the CoC meeting as five lenders — SBI, IIFCL, IDBI, UBI and LIC — requested him to convene the meeting.

In a regulatory filing on Sunday, Anuj Jain informed shareholders that a meeting of the CoC is scheduled on May 24.

Suraksha group has strongly objected to the creditor panel’s meet to discuss the NBCC’s addendum to its final bid. ‘

‘We wish to put on record strong objections to such actions to ratify and discuss the resolution plan of the other resolution applicant at this late stage,’’ Suraksha group said in a letter to the IRP and bankers.