1. Jaypee flat buyers claim whole situation was well planned scam, government must take responsibility

Jaypee flat buyers claim whole situation was well planned scam, government must take responsibility

IDBI filed an insolvency plea in the tribunal after Jaypee Infratech defaulted on a loan of around Rs. 8,500 crore. Although the company had claimed that it held adequate assets to repay the loan, IDBI went ahead and filed the plea.

By: | Updated: August 13, 2017 7:08 PM
jaypee wish town, jaypee, National Company Law Tribunal, insolvency, IDBI Bank, jaypee flat buyers, jaypee Two days into the protest, homebuyers say that the whole situation was a well-planned scam. (ANI scam)

Two days into the protest, homebuyers say that the whole situation was a well-planned scam after the Allahabad bench of the National Company Law Tribunal ( NCLT) admitted IDBI Bank’s insolvency plea against Jaypee Infratech. The protesting buyers gathered outside its Sector 128 office and shouted slogans. Pramod Kumar, one of the buyers from Jaypee Group said, “Jaypee Industries from the Jaypee group bought land from the government. They launched the project with the name of Jay Prakash Associates. But we were made to pay to Jaypee Infratech. We can’t take our claims anywhere now. This is a scam.”

The buyers also said that the government must take responsibility for these things.

“Previous governments in Uttar Pradesh sheltered Jaypee Infratech and did nothing to prevent innocent home buyers from falling into the trap of this realty firm. We have suffered for last 6-7 years, as the builder failed to deliver the projects as per schedule. And now, the insolvency plea has only made things more uncertain for us,” another buyer said.

IDBI filed an insolvency plea in the tribunal after Jaypee Infratech defaulted on a loan of around Rs. 8,500 crore. Although the company had claimed that it held adequate assets to repay the loan, IDBI went ahead and filed the plea.

  1. P
    pradeep
    Aug 16, 2017 at 8:11 pm
    oh yes it is a scam . IDBI bank and Jaypee infra tech involved with the knowledge and approval of the goverment . The new person appointed Mr Anuj Jain will only take care of IDBI bank interest a.nd Jaypee Infratech interest.
    Reply
    1. A
      Anurag
      Aug 15, 2017 at 8:12 am
      No details of form to be filled for claim. This time to be extended as 2 week is very less and no procedure informed to file the claim. It is very big cheating with Genuine home buyers
      Reply
      1. S
        S. B. Gupta
        Aug 14, 2017 at 7:03 pm
        Jaypee Infratec holds FIXED DEPOSITS OF lot of OLD People besides Bank Loan's and flat owners money. Any one caring for these OLD PEOPLE MOSTLY RETIRED .
        Reply

        Go to Top