The Noida Authority on Saturday said insolvency
proceedings against Jaypee Infratech would not come in the way of construction
work at its delayed housing projects, including Jaypee Wish Town.
The
announcement was made by Noida CEO Amit Mohan Prasad after a meeting with
Jaypee Greens, Jaypee Infratech managing director Manoj Gaur, senior officials from IDBI Bank,
which has filed the insolvency plea at the National Company Law Tribunal
(NCLT), and the interim resolution professional appointed by NCLT. Prasad also
said 500 units at Wish Town, Jaypee's mega housing project in Sector 128, could
be delivered in September.
Prasad
said he has directed Gaur to draw up a resolution plan, which is to be
submitted to NCLT, in the interest of homebuyers. The CEO also said that he had
asked the realtor to ensure work at Wish Town, where nearly 27,000 flats are
still to be delivered, does not stop. “I have asked the builder to make sure
construction work in the township across 26 projects does not stop and
completion of units is achieved,“ Prasad said.
The Noida
Authority will continue to give completion certificates to Jaypee's projects as
soon they are completed and the company applies for it. “This will ensure
homebuyers will continue to get possession of their houses after the
registration process is complete,“ Prasad said. “In the last month, the builder
handed over possession of about 1,000 residential units. The company is likely
to hand over possession of another 500 units next month. This process will
continue and buyers need not panic,“ he urged.
Prasad
has also asked Gaur to keep communication channels open with the homebuyers. “I
have asked Gaur to keep homebuyers abreast of the situation being faced by the
group,“ he said.
Jaypee
had promised to complete 6,000 flats at Wish Town by March 2018, 8,000 more in
2018-19 and the remaining by 2020. It has already delivered 6,500 flats. Jaypee
did not respond to calls for a comment.
Interim
resolution professional Anuj Jain made a public announcement, asking creditors
of Jaypee Infratech to submit proof of their claims on or before August 24.
Sourced From: http://timesofindia.indiatimes.com/ Dated : 13-08-2017.
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