IRP rules out any refunds to Jaypee Home Buyers

Insolvency Resolution Professional (IRP) assigned to Jaypee Infratech insolvency case has ruled out any provision of cash-refunds to buyers of the project.

Anuj Jain had been appointed as IRP by NCLT so that insolvency and bankruptcy code may be followed and necessary steps be taken in this regard. Jain later released FAQ’s and requested home buyers to submit forms regarding any claims before 24 august. IRP has also made it very clear that deadline of 24 August will not be extended.

Anuj Jain has also clarified that IRP has given no statement or assurance to any individual or authority regarding granting refunds to some flat buyers or projects. There is no such provision or direction so far.