Jaypee homebuyers still hoping for dream houses

The National Court of Company Law Appeal (NCLAT) on Tuesday extended the indebted Jaypee Infratech resolution period by another 90 days.

While the Supreme Court has ordered speedy treatment of similar problems faced by home buyers of Amrapali and Unitech projects, JP

Homebuyers Jaypee still awaiting the end of its problems.

Jaypee Infratech has assets in Yamuna Highway, hospitals and debt of around Rs 8,000, with public funds raised by several banks. This is an ideal case for classifying “corporate veil lifting”.

Today, a dramatization about JP’s liquidity will increase more than 350 days from its start in the previous year.

JP matters to the Supreme Court because it is anticipated that the court can declare some fundamental observation.

“The Supreme Court had asked in November 2017 to deposit 2 billion rupees in installments to cover part of its JIL subsidiary’s responsibility for 30,000 homebuyers from Jill’s parent company, Jaiprakash Associates (JAL), till May 2018.

JALP Referring to the wheels within the wheel frame adopted by Jallar’s lawyer, Ashwini Sinha said, JAL deposited only Rs 750, with the highest court records Were it went moved court.

Earlier this month, a Supreme Court case in JP asked the Center to move a resolution that addresses the difficulties faced by homebuyers who have not yet taken possession of the apartments despite paying the builders.

The court requested a proposal from the center.

The court said that under the IBC (Bankruptcy and Bankruptcy Code), it cannot do much, but the Center can suggest a way forward.

This observation was made on hearing JIL’s request for a delay in liquidation, in fact, it has exceeded the corporate bankruptcy resolution process deadline.

The Center said that it would answer the charge. The case for a detailed hearing appeared on Thursday in the Supreme Court.

Read Also: –NEARLY 1 LAKH HOMEBUYERS HAD TO GET INTO LEGAL TROUBLE TO GET THEIR FLATS.

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