Home buyers reject Jaypee's offer on flats, want action

NOIDA: The buyers of Jaypee Wish Town project have written to the National Company Law Tribunal-appointed insolvency resolution officer of Jaypee group, Anuj Jain, against the builder's offer to deliver 600 flats per month from November, claiming that the builder is evading his original commitment to the buyers through this bid as the total delivery would not be completed before 2022.

The buyers also demanded that the state government and the Noida Authority reject Jaypee group's proposal and make them accountable for the actual financial liabilities the builder has towards the buyers, including penalties.

Over 2,000 buyers of Jaypee are also planning to appeal in the Supreme Court on September 4 to grant the buyers 'financial creditors' status in the NCLT insolvency bid.

"How is it possible that a builder can get away with a vague commitment of delivery of 600 flats per month? All the bookings were done at once, so who is going to do the toss-up of who gets his house first? What happens to all our dues as penalty? Also the time-frame for the resolution of the insolvency against the builder is nine months. How is it being guaranteed that the houses are going to be delivered beyond that period? What is the legal sanction of such a commitment when the builder has already dishonoured his commitments for so long?" asked Pramod Kumar, a member of Wish Town buyers group.