Jaypee buyers want clarity on investment, post-insolvency suit | Noida News
NOIDA: Homebuyers from various projects of Jaypee Wish Town gathered outside the realtor's corporate office in Sector 128 on Friday and demanded clarity on the financial impact of the insolvency suit on their investments. The National Company Law Tribunal had on Wednesday admitted insolvency proceedings against Jaypee Infratech, filed by IDBI Bank. While the corporate office told the buyers that their houses will be delivered on time, they demanded an explanation as to how Jaypee Infratech went insolvent. The buyers said they would take out a procession from Sector 128 to Gautam Budh Nagar SSP 's office in Sector 14 on Saturday, demanding an answer as to what happened to the FIRs registered against the developer in April this year. Jaypee had in April made a commitment to the buyers and the Noida Authority that all its pending apartments would be handed over by 2020. The company had also announced that a working capital of Rs 800 crore was secured for the completion of the...