Lenders of Jaypee Infratech have asked Suraksha Group to improve their bids by offering more land.
Lenders of Jaypee Infratech, who are going through the insolvency resolution process, have asked Suraksha Group to improve their bids by offering more land. At the same time, home buyers have demanded to reduce the time limit for completing the housing project. Committee on Lenders’ Group on Saturday to consider the revised bids of NBCC and Suraksha Group, a public sector undertaking under the Insolvency and Bankruptcy Code (IBC) issued for the acquisition of Jaypee Infratech (IBC) CoC) met.
The fourth round of bidding in the case of Jaypee Infratech
In the case of Jaypee Infratech, this is the fourth round of bidding. Jaypee Infratech was placed under the insolvency process on August 2017. According to sources, the lenders have asked the security group to offer more land in its bid in case of exchange of debt-land. The company currently offers 2,050 acres of land in Noida and Greater Noida.
Reduce the time limit to give possession of the flat
On the other hand, JP’s home buyers have asked the security group to reduce the time limit for giving buyers possession of their flats.
On the Supreme Court’s directive, NBCC and Mumbai-based security group submitted their revised bids for the acquisition of Jaypee Infratech last week. Solution plans have been handed over to interim solution professional Anuj Jain. The apex court also directed to extend the resolution process by 45 days.
A demonstration was held on April 3
Earlier on 3 April, JP Homebuyers demonstrated at Jantar Mantar in Delhi demanding justice. The welfare association JKBAWA wrote a letter to Prime Minister Narendra Modi seeking intervention in the matter. Nearly 20,000 homebuyers had written a letter to Prime Minister Modi asking them to intervene in the matter so that the incomplete projects of the bankruptcy realty developers Jaypee Infratech in Noida and Greater Noida could be completed. These homebuyers said that if the PM pays attention in this matter, then we will get the shelter of our dreams. This will also benefit the country’s economy.
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