New Delhi, (23/6/2019): Distressed homebuyers of debt-ridden Jaypee Infratech demonstrated a silent protest at Jantar Mantar in the national Capital today, after the lenders and home buyers failed to agree on a logical conclusion.
As per the homebuyers of the Jaypee Infratech, two major class of creditors included homebuyers with 60 per cent vote share and banks with 40 per cent in the Committee of Creditors (CoC) are not on board in a bid to achieve successful resolution in the matter.
The buyers have alleged that the bankers were not making any effort to resolve the issues. While talking to Ten News they said, “It’s a unique case wherein the banks have not made any genuine serious efforts in the direction of ensuring successful Resolution and the homebuyers whose lifelong savings are at stake making all possible compromises and efforts so as to ensure getting possession of their dream houses with some reasonable compensation for delay,”
“We demand from government that it should take strict and urgent action towards the problem of the home buyers. We want to know where 1300 crore rupees which was taken by the Jaypee Group gone!? If our homes are not completed, the money was not invested in the construction then where it was invested and where it has gone? We demand a Forensic Audit of Jaypee Group and want our homes as soon as possible”.
“Why the IDBI bank is rejecting the bid of NBCC when it is a government body?”.
Government’s Navratna Enterprise NBCC had proposed to take over the Jaypee Infratech and complete over 20,000 unfinished flats but the main stake holder of Jaypee Infratech, IDBI bank rejected the bid for the fifth time. Earlier, Suraksha Group had also shown interest to acquire the company but the flat-buyers rejected the plan due to the lack of trust on private firms.
The Jaypee Infratech had launched around 50,000 flats in 2009-10 in various ambitious real estate projects in Noida and along the Yamuna Expressway area. But the slowdown in the property market and other factors affected the financials of the company and shattering home buyers’ hopes the company declared itself as insolvent.
