Thousands of flat buyers and investors are upset after accepting a bankruptcy petition filed by IDBI Bank against the real estate firm, JP Infratech, by the National Company Law Tribunal. Meanwhile, the CEO of Noida Authority has told people giving assurance that there is no need to panic.
Noida CEO Amit Mohan Prasad said that soon he would bring a plan to safeguard the interests of JP’s 32,000 home buyers.He told our Associate newspaper, Times of India, “We will not let the money earned by the investors’ hard persuasion drown. If the rules are violated then we will take strict action against the developer. ”
JP had promised to provide 2020 flats to all buyers of mega housing project in this year april.So far only 6,500 people have found the flat.There are 32,000 flats in Wish Town.
On Friday,a large number of JP’s investors reached outside the corporate office in Noida 128 sector and raised their voice. People talked to officers and questioned about their project. Officers also gave them the confidence to give home on time.
However, on Saturday investors announced the removal of Protest March from the JP Office to Noida Police Chief Office. Wish Town Flat Buyer Pramod Kumar said, “It is a matter of concern that if the company is declared bankrupt, then all our cases against the builder will be neutralized. We will also ask the police what happened to the FIR that we filed against the builder in April. Have any inquiries been done?
Buyer Yatin Goyal alleges that the JP Group has plundered thousands of buyers by organizing a planned conspiracy. He earned billions of rupees by booking buyers in his subsidiary JP Infratech. At the same time, the loan was also taken from IDBI Bank on the same property. After that the amount was transferred to other projects. Later, in collusion with the IDBI Bank officers, after filing a case in NCLT, Jaypee Infratech started the process of declaring bankruptcy.
Buyer Pramod Rawat is also alleged that both the JP group and the IDBI is in the conspiracy. He said, “We will file a claim for the withdrawal of money in NCLT.