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Jaypee promoter meets buyers camping outside company’s office

| | New Delhi | in Sunday Pioneer

Jaypee Infratech promoter Manoj Gaur on Saturday came out to address thousands of angry buyers of the company’s unfinished properties.

The buyers, numbering anywhere between 5,000 and 10,000 have been camping outside the company’s Sector 128 Noida office since Saturday morning. Most of the buyers want refund of their money.

“Your money won’t go anywhere, I will not be able to sleep till I deliver your house,” Gaur told the irate buyers amidst police bandobast.

Gaur was accompanied by insolvency resolution professional Anuj Jain from KPMG and officials of IDBI Bank.

The Allahabad Bench of the National Company Law Tribunal (NCLT) on Wednesday accepted lender IDBI Bank’s plea and admitted Jaypee as a case for insolvency resolution.

Anuj Jain, the insolvency professional, will sit with Jaypee’s creditors now to see if a resolution of the company’s debt is possible. He has 270 days to do this. The company’s board will remain suspended in this period.

 
 
 

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