Jaypee Infratech
Homebuyers Want NBCC
Noida/New Delhi, December13,
2019: The homebuyers of Jaypee Infratech Ltd. are suffering for the last 8-12
years. They have been fighting legal cases under the banner of “9A” for over
two years to ensure that all homebuyers get their homes. In order to put the
misery and agony of 25,000 families to rest, the association requests all stake
holders to rise to the occasion and facilitate a successful resolution and
smooth transition
“Homebuyers
want successful resolution; they are not averse to the plan of either of the
two bidders / resolution applicants. However, there are certain essential
criteria which steers NBCC much ahead in comparison to the other bidder. Jaypee
Wishtown Noida is a huge project comprising of 25,000 unfinished flats. Only
NBCC has the experience of developing townships and large building complexes in
the NCR region. The support of Government and its Navratna PSU status has
instilled confidence in the 25,000 beleaguered home buyers. Those home buyers
who are scattered across various cities and have not been able to keep pace with
the developments, we urge those home buyers through this press release to vote
YES for the resolution plan of NBCC,” Spokesperson for the consortium of 9 associations Mr. Aaditya Gutgutia
said in a statement.
They are urging
the private sector banks (creditors) to take a pragmatic view and evaluate the
overall economic benefits to the Banking industry by resolving the largest real
estate stressed company from the first RBI list of dirty dozen of Y 2017.
“We are
confident that the public sector banks will surely take their decisions in the
larger Public good. We are confident that it will help the entire banking
sector as the distressed homebuyers would be able to service their home loans
on a regular basis. The banks cannot and should not ignore the greater public
cause. Thus, we seek their support and request Banks both public and private to
vote in favor of NBCC,” Mr. Gutgutia added.
During the
associations various meetings with the bank officials at the COC venue, they
have been assured that homebuyers concerns are paramount to Banks as promised
in CIRP#3.
The Consortium of registered associations (“popularly known as 9A”) of home buyers would like to thank the Hon’ble Supreme Court; the Government; and NBCC & Suraksha for participating in the insolvency process of Jaypee Infratech Limited (“JIL”).
