Nearly 1,500 such aggrieved homebuyers orgainsed a protest demonstration against the Jaypee builders and the Noida Authority at Jantar Mantar on Saturday. Recently, the Allahabad Bench of the National Company Law Tribunal had declared Jaypee Infratech as an insolvent company. Jaypee Infratech, a part of the debt-ridden Jaypee group, has defaulted on Rs 526.11 crore outstanding loan to the IDBI bank. The tribunal has further advised homebuyers, employees, and creditors of Jaypee projects to file their claims before August 24. August 9, 2017 Jaypee declares itself bankruptThe company Jaypee Infratech, which is developing about 32,000 flats has not delivered homes under 27 different projects.

Source: dna August 20, 2017 02:26 UTC