Jaypee Infratech Homebuyers Want NBCC

Jaypee Infratech Homebuyers Want NBCC

On 26 Dec , 2019 03:43 AM

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”). 

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