Legal experts have mixed opinions on the insolvency proceedings against the Jaypee Infratech with regard to the safety of buyers’ investments. “The insolvency proceedings are a blessing in disguise for homebuyers because Jaypee Infratech was unable to deliver flats or refund the investment. Jain has taken over the Jaypee Infratech management, held meetings with staff of Jaypee Group and also met the Noida authority officials. Jaypee Infratech had got the housing land for free for constructing the Noida Expressway. “IRP resolution report will narrow down on how the Jaypee Infratech used funds collected from the buyers.

Source: Hindustan Times August 14, 2017 16:18 UTC