NOIDA: Even as
Jaypee Infratech Limited stares at possible liquidation, wish lists were floated by groups of homebuyers as possible solutions to preserve their financial interests in any likely resolution. The buyers have demanded that the terms and conditions of their position in any likely resolution be made transparent.
So far, through the resolution process, the portion that dealt with liabilities of
Jaypee concerning the buyers have not been spelt out clearly, leading to ambiguity and assumptions, they said. The buyers demanded that a complete disclosure be made about how buyers are being considered in case of a due liquidation or resolution.
“The buyers are not concerned with valuation. We have no faith in JAL appearing as a bidder in resolving the construction of Wish Town. If it had Rs 10,000 crore to take over and infuse funds into the incomplete projects, then why did it not pay Rs 2,000 crore to the
Supreme Court?” Ranjeet Jha, a buyer asked in a press conference held in Noida by a group of buyers who are opposing JAL’s bid to take over as a bidder in case of a possible resolution of insolvency.
“Buyers have so far paid up Rs 18,000 crore to the builder. Where did the money go? We are not defaulters and we should simply be given our flats. We think Jaypee has no ability, credibility, intent. We want the apartments to be completed by a reliable party and handed over simply with adequate compensation and no riders,”
Ashish Rastogi, a buyer said.
Jaypee Group