Last chance for over 1,100 Jaypee Infra homebuyers: Suraksha Group offers two options for homebuyers
home buyers in Jaypee Infratech. Suraksha Group, which acquired the project through insolvency resolution, offers to settle the dues or request a refund.
A Times of India news report stated that 538 homebuyers who have paid 80% or more of the cost but failed to make a required claim under the Insolvency & Bankruptcy Code can now pay their dues. As per the revised plan approved by the Supreme Court, these homebuyers have a 30-day window to settle their dues.
An additional 163 home buyers who have paid less than 80% of the flat's value are eligible for a refund under the approved resolution plan. Moreover, 430 other entities have booked apartments in projects deemed unviable. In their case, the refund will be determined according to the formula applied to other project participants, reported the Times of India.
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“The move will benefit 1,131 home buyers who have not filed claims in the company which underwent insolvency resolution with the exercise starting almost five years ago,” stated Times of India.
A home buyer hadn't filed a claim within the time specified by the IBC. This buyer went to the Supreme Court, where the Suraksha Group proposed a solution.
“It is also made clear that the appellant, Ayush Agarwal, and other home buyers, who have paid 80% or more of the demand, may simply write a letter to the resolution applicant, Suraksha Realty Limited, indicating the option exercised by
