Dear Press/ Media Guys, Please help 30,000 Flat owners of Jaypee Greens Noida to present there case... we will be oblige if you can contribute and help us to get our dream homes!!! we have paid 90% of flat cost & EMI are running but not getting possession as Builders are doing fraud & hiding behind LAW. Your family member or yourself would be affect directly or indirectly please help us!!!
SOS APPEAL to Hon’ble PM
We, the 35000 home buyers in Jaypee Greens Wish Town NOIDA, are constrained to knock the door of you Sir as a measure of last hope of our survival. We had invested all our life time capital in Jaypee Greens Wish Town NOIDA during 2008 – 2010 through home loans / savings and cutting monthly home expenses towards children’s school fee, medical and other allied expenditure in order to pay EMIs but the hope of getting our dream home is now almost at the verge of end.
IDBI Bank has filed a petition under Insolvency and Bankruptcy Code before Hon’ble NCLT against JAYPEE INFRATECH NOIDA. The matter was heard by the Hon’ble NCLT on 4th August’17 and after hearing both sides, Hon’ble NCLT has reserved its order to be pronounced on 9th August, 2017.
Home buyers concern is that they do not fall under the term of secured creditors. IBC law passed in December 2016 does not define Home Buyers in any of the secured categories of creditors. The fear looming over home buyers is that despite paying over 90% payment to builder Jaypee Infratech buyers will be deprived of the legitimate right of their home possession and unfortunately if the liquidation process of company’s assets takes place it will be disastrous to home buyers. Moreover, EMIs will be continued to be paid to Banks throughout their lives by home buyers without getting anything in return.
Through this open letter an appeal is made for immediate intervention in the matter for restoring and taking care of the genuine claims of buyers and setting up a high level enquiry into the inordinate delay in possession and misappropriation of fund by Jaypee Infratech.