Lenders to Jaypee Infratech (JIL) on Tuesday turned down a proposal from L&T Infrastructure Development Projects (IDPL), which envisaged the purchase of only the flagship Yamuna Expressway and not the entire assets of the bankrupt firm. Final bids for JIL assets will be called for in January. Bankers present at the meeting of committee of creditors (CoC) said lenders were opposed to the idea of a piecemeal sale of the company assets. L&T IDPL, an arm of engineering and construction major Larsen & Toubro, had expressed interest only in JIL\u2019s flagship Yamuna Expressway and not the other assets such as land parcels attached to the expressway. JIL\u2019s assets also include 25,000 apartments that are under construction and 3,000 acres of land parcels, mostly along with the expressway. \u201cLenders are not keen on piece-meal sales because other buyers may not buy the remaining assets. In that case, the projects will remain incomplete, \u201d one of the bankers said. That leaves four parties in the fray. These are state-run NBCC, Kotak Investment Advisors, Sudhir Valia-promoted Suraksha ARC and Cube Highways & Infrastructure. Sans L&T IDPL, all other bidders have shown interest in picking up the debt-ridden firm in its entirety. A meeting will be called next week to discuss various modalities of the bidding process. The National Company Law Tribunal (NCLT) on August 9, 2017, admitted IDBI Bank\u2019s plea to initiate corporate insolvency resolution process against JIL for defaulting on a Rs 526-crore loan. However, a resolution eluded the firm within the stipulated time-frame as lenders were not happy with the \u201ctoo low\u201d bids. However, on a writ petition filed by the homebuyers, the Supreme Court on August 9, 2018 directed JIL\u2019s resolution professional Anuj Jain \u201cto follow the provisions of the insolvency code afresh in all aspects\u201d. Noting that the liquidation of Jaypee would serve no purpose for homebuyers, financial institutions or the promoters, exercising power under Article 142 of Constitution of India, the apex court extended the insolvency process of Jaypee for another 180 days. Jain had invited EoIs on October 25 and November 9 was the last date for submission of the EoIs. Also Read| Air India stake sale: After failing to get buyers, govt now comes up with this plan Earlier, Lakshdeep, Adani Group and a joint venture between Kotak Investment Advisors and Cube Highways had submitted the resolution plans. Consequently, Sudhir Valia-promoted Suraksha ARC had emerged as the frontrunner to acquire JIL. However, in May this year, lenders of JIL rejected the Rs 7,350-crore bid by Suraksha as they found it \u201ctoo low\u201d. According to a note prepared by IDBI Bank, Jaypee\u2019s largest lender, the company\u2019s actual value stands at Rs 17,111 crore, while its distress value is pegged at Rs 14,548 crore. JIL has Rs 9,000 crore outstanding to various banks.