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Faced With Uncertainty, Jaypee Infratech Homebuyers Decide To Stop Paying Loan EMIs

Faced With Uncertainty, Jaypee Infratech Homebuyers Decide To Stop paying loan emis Around 32,000 homebuyers of as many as 27 Jaypee projects are left in lurch after the NCLT admitted a plea of.

This appeal follows the uncertainty faced by almost 40,000 homebuyers over their investments after the National Company Law Tribunal (NCLT) admitting IDBI Bank’s plea for initiating insolvency proceedings against Jaypee Infratech for defaulting on a Rs 526-crore loan earlier last month.

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Possible remedy for homebuyers Never stop paying the EMIs. Join the NCLT proceedings to register your claim. No litigation is possible during the NCLT proceedings of 180 days. One can also explore remedy under the RERA. If not satisfied with NCLT judgment, appeal to higher tribunal of NCLAT. There is no High Court jurisdiction into it

Jaypee Infratech home buyer? You may soon stop paying EMIs – Here is why.

NTH :: Faced With Uncertainty, Jaypee Infratech Homebuyers Decide To Stop Paying Loan EMIs Around 32,000 homebuyers of as many as 27 Jaypee projects are left in lurch after the NCLT admitted a plea of the IDBI Bank for initiating insolvency proceedings against the debt-ridden company for defaulting on Rs 526-crore loan.

Abhishek Dubey has paid Rs 40 lakh over the last seven years for his Rs 45 lakh flat in the Jaypee Group’s Wish Town in Noida Sector 128. He was supposed to get the flat in April 2013. Four years on,

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Supreme Court refuses to stay Jaypee Infratech’s bidding process Jaypee Infratech’s bidding process will continue before the interim resolution professional (IRP), says Chief Justice Dipak Misra.

Supreme Court Orders Jaypee Infratech To Deposit Rs 2,000 Crore by Oct 27, Protect Home Buyers’ Interest Hundreds of home buyers have been left in the lurch after the National Company Law Tribunal (NCLT), on August 10, admitted the IDBI Bank’s plea for initiating insolvency proceedings against debt-ridden Jaypee Infratech for defaulting on a Rs.

Jaypee group has offered 2,000 equity shares of Jaypee Infratech for free to each home buyer as part of its Rs 10,000-crore proposal to revive the bankruptcy-hit real estate firm, sources said.Earlier

Jaypee Infratech has been defaulting on the loan amount to the tune of 500+ crores provided by IDBI Bank. Unable to recover the loan amount, the IDBI bank filed an application with NCLT under Section 7 of the Bankruptcy Code 2016. Initially, Jaypee had objected to the application but later withdrew the objections filed.