Dear All,
As you heard about some financial issues on Jaypee group. we all know that its a huge group on many fields like Electricity, Information technology, Real-Estate, Cement, Solar and many more, this group have done a lot of projects for government and human welfare as well. but due to some incidents consecutively happened the one firm of the group "Jaypee infratech limited" has failed to deposit the bank loan issued by IDBI bank. And also failed to prove that he can earn such amount by developing his residential projects running since 2010 at Noida- Agra expressway.
The Jaypee Infratech Limited launched 26 residential projects with Jaypee Assosiate limited in Jaypee wish-town and jaypee sports-city in which many projects are delivered to owners but many investors and its customers are still waiting for their possession but after this incident they are afraid of their money and flat also.
But I have to clear that the IDBI insolvency issue is only with JIL(Jaypee Infratech limited) which is involved to develop Jaypee Kosmos, Jaypee Klassic, and Jaypee Kensington Park properties in which Kosmos's some towers has offered possession.
The persons whose flats are in these projects they don't have to worry about their money and flat delivery certainly they will got their respective, but it will take time more than early expected, it is already delayed project.
Here are some possibilities that may took place
* The rates of these projects will go to bottom line.so the buyers can get flats at very low cost at good location and builder. immediate after solving the issue, so the interested person have to wait, watch and track. I think it will take two to three years.
* Currently no transactions are received by Jaypee.
* who purchased flats for investment surely they can not make money this time.
* who purchased for self use they also can not get the possession with in one or two years.
* obviously they will suffer financially who got bank loan for home.
* By this incident the jaypee will not make the confidence to his investors for his upcoming launches.
Finally form Builder side nothing has come out about IBDI issues and NCLT gave him enough time to prove wrong the petition. So lets wait and watch.
here i m attaching some figures for your reference.
and I am attaching the complete copy file of Judgement of Allahabad bench of NCLT.
CP.No(IB)77/ALD/2017 09.08.2017 M/s IDBI BANK LTD. Hon'ble Mr. H.P.CHATURVEDI,
Thanks for reading i will keep you informed and updated about this issue.
sachan
8802278720
As you heard about some financial issues on Jaypee group. we all know that its a huge group on many fields like Electricity, Information technology, Real-Estate, Cement, Solar and many more, this group have done a lot of projects for government and human welfare as well. but due to some incidents consecutively happened the one firm of the group "Jaypee infratech limited" has failed to deposit the bank loan issued by IDBI bank. And also failed to prove that he can earn such amount by developing his residential projects running since 2010 at Noida- Agra expressway.
The Jaypee Infratech Limited launched 26 residential projects with Jaypee Assosiate limited in Jaypee wish-town and jaypee sports-city in which many projects are delivered to owners but many investors and its customers are still waiting for their possession but after this incident they are afraid of their money and flat also.
But I have to clear that the IDBI insolvency issue is only with JIL(Jaypee Infratech limited) which is involved to develop Jaypee Kosmos, Jaypee Klassic, and Jaypee Kensington Park properties in which Kosmos's some towers has offered possession.
The persons whose flats are in these projects they don't have to worry about their money and flat delivery certainly they will got their respective, but it will take time more than early expected, it is already delayed project.
Here are some possibilities that may took place
* The rates of these projects will go to bottom line.so the buyers can get flats at very low cost at good location and builder. immediate after solving the issue, so the interested person have to wait, watch and track. I think it will take two to three years.
* Currently no transactions are received by Jaypee.
* who purchased flats for investment surely they can not make money this time.
* who purchased for self use they also can not get the possession with in one or two years.
* obviously they will suffer financially who got bank loan for home.
* By this incident the jaypee will not make the confidence to his investors for his upcoming launches.
Finally form Builder side nothing has come out about IBDI issues and NCLT gave him enough time to prove wrong the petition. So lets wait and watch.
here i m attaching some figures for your reference.
and I am attaching the complete copy file of Judgement of Allahabad bench of NCLT.
CP.No(IB)77/ALD/2017 09.08.2017 M/s IDBI BANK LTD. Hon'ble Mr. H.P.CHATURVEDI,
Thanks for reading i will keep you informed and updated about this issue.
sachan
8802278720
