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Jaypee Infra management, homebuyers to discuss delivery, other proposals on Friday

Posted by Urban Avenues on April 19, 2019
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The financial proposals of two bidders – Suraksha and NBCC – have failed to pass muster at the Committee of Creditors (CoC). NBCC has sought time till April 24 to submit a revised proposal.

Just a fortnight before the May 6 deadline for expiry of the resolution process, an estimated 22,000 worried homebuyers of debt-ridden Jaypee Infratech will meet the management of the company on Friday with hopes of a last-ditch solution that will get them their long-awaited homes.

If a resolution is not worked out by the deadline, the company may go into liquidation as it is unlikely to be granted more time for the resolution process, said people aware of the matter. In that case, the possibility of homebuyers getting possession of their flats is likely to diminish further and push them towards another protracted legal battle, they said.

The financial proposals of two bidders – Suraksha and NBCC – have failed to pass muster at the Committee of Creditors (CoC). NBCC has sought time till April 24 to submit a revised proposal.

The management of Jaypee Infratech is looking at an opportunity to wrest control of the company by promising a lucrative offer that includes completion of all flats and associated infrastructure in a time-bound manner, payment of penalty for delay in delivery, 2,000 company shares to each flat buyer and payment of 50% stamp duty at the time of registry.

 

Click on link:https://realty.economictimes.indiatimes.com/news/industry/jaypee-infra-management-homebuyers-to-discuss-delivery-other-proposals-on-friday

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