Jaypee Infratech
Img : financialexpress

The worried Jaypee homebuyers will meet the management of the debt-ridden firm to discuss the delivery of their dream homes. Approximately 22,000 aspiring homeowners are bearing the burn of delayed construction of the units that were supposed to be delivery way before today’s date.

According to the sources, the Jaypee Infratech is most likely to go into liquidation in case the resolution is not worked out by the set deadline. This is giving homebuyers sleepless nights as the further extension for the resolution process is unlike to be granted.

In order to see the light at the end of the tunnel, the homebuyers have the option to make a legal move to regarding the same.

Recently, both the bidders that are the NBCC and the Suraksha group failed to convince the Committee of Creditors (CoC). However, the National Building Construction Company sought time till 24th April to submit a revised proposal.

The Jaypee management is also looking forward to maintain the company’s image of delivering projects on time along with other infrastructural things in the set deadline.

Earlier this week, NBCC i.e. the National Building Construction Company has to submit the revised bid by 25th April in order to acquire the debt-ridden Jaypee Infratech. This bid can also make the way for NBCC to complete the stalled projects of the firm in Noida and Greater Noida locations.

The lenders of Jaypee Infratech asked NBCC to submit their plan on the said date, sources confirmed.

In 2017, the National Company Law Tribunal (NCLT) had admitted the application by an IDBI Bank-led consortium, seeking resolution for JIL under the Insolvency and Bankruptcy Code. The tribunal had appointed Anuj Jain as IRP to manage the company’s business, who later invited bids from investors interested in acquiring JIL and completing the stuck real estate projects in Noida and Greater Noida.